Ru Ru Jalbidhyut Pariyojana Limited Closing Its IPO to Project Affected Locals Today

Fri, Mar 5, 2021 10:32 AM on Latest, IPO/FPO News,

Ru Ru Jalbidhyut Pariyojana Limited is closing its IPO to the project affected locals from today.

The company had issued 4,07,705 unit IPO shares to the project-affected locals of Gulmi District from Falgun 7, 2077. The issue will close today at the end of banking hours.

The interested locals can place their applications for a minimum of 10 units and a maximum of 4,00,000 units. NMB Capital Limited has been appointed as the issue manager for the IPO issuance. The company has a total of 40,77,055 shares registered. 4,07,705 unit shares will be issued to the locals at the rate of Rs. 100. Meanwhile, 4,07,706 units will be issued to the general public at a premium rate of Rs. 120.

After the IPO is issued in two phases, first to locals and then to the public, the promoter: public shareholding ratio of the company will be 80:20, and paid-up capital will be Rs 40.77 crore.

ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 3, indicating average fundamentals, to the proposed initial public offering (IPO) of NPR 89.695 million of Ru Ru Jalbidhyut Pariyojana Limited.