Rapti Hydro and General Construction’s IPO Under-Subscription: Closing Date Extends to Ashad 10

Rapti Hydro and General Construction Limited (RHGCL) has extended the deadline for the IPO issue for locals of Rukum (Eastern and Western districts).

The company has been issuing 6,12,793 shares at a par value of Rs. 100 per share for the project affected locals from 24th Jestha and was supposed to conclude today i.e 7th Ashad. However, the issue is still unsubscribed, the deadline has been extended till 10th Ashad, 2079. The locals of the Rukum (Eastern and Western districts) can apply for a minimum of 10 shares to a maximum of 6,00,000 shares.

Siddhartha Capital is appointed as the issue manager for the IPO issuance.

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) to Rapti Hydro and General Construction Limited (RHGCL). Companies with this grading are considered to have high risk of default regarding timely servicing of financial obligations.

Rapti Hydro & General Construction Limited is a public company incorporated on Kartik 5, 2065 (October 21, 2008) as per Companies Acts 2063, Nepal with the objective to develop and invest in hydropower projects. It is currently developing a 5 MW Rukum Gad Hydropower Project in Rukum East District and owns its Electricity generation license. The Project is located at Sisne and Bhume Gaunpalika of Rukum East District. Its registered office is located at Kathmandu-11, Bluestar Complex, Tripureshor.

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