Rasuwagadi Hydropower urges to open Demat account for eligible employees of promoter shareholding companies, Employee Provident Fund and lending institution

Rasuwagadi Hydropower Company Limited has published notice regarding eligible applicants and necessary requirement of Demat account to apply for  1.64 crore units shares. As per the notice published in newspaper today, the hydropower company urges all the eligible applicants to open Demat account for the submission of application of shares. Eligible applicants can open Demat account from any Depository Participants all over the country. Following are the eligible applicants:

• Employees of Employee Provident Fund.
• Employees having membership of Employee Provident Fund till Poush 20, 2074.
• Employees of Nepal Electricity Authority, Chilime Hydropower Company Limited and Public administration of Rasuwa District.

Siddhartha Capital, NIBL Capital Markets, Global IME Capital and NCM Merchant Banking Limited are the issue managers for the IPO for Rasuwagadhi Hydropower Company. Rasuwagadhi Hydropower Company Limited is also a subsidiary of Chilime Hydropower Company Limited with 33% shareholding and was incorporated in August 2011 as a public limited company. It has planned to develop Rasuwagadhi Hydroelectric Project having capacity of 111MW in Rasuwa district. Nepal Electricity Authority is another major promoter with 18% shareholding, After this IPO, employees of EPF will have 1% shareholding, contributors of EPF will have 19.50% shareholding and employees of promoter companies will have 3.50% shareholding in the company. The company has set aside 10% for project-affected local people and 15% for general public.