Rairang Hydropower Development Company has allotted initial public offering (IPO) today in premises of NIBL ACE Capital limited.
Out of total 1,75,472 applicants 76,440 applicants are allotted with 10 units of share through lottery. 194 applicants are invalid. IPO was over subscribed by 17.78%.
The hydropower company had issued 8,40,000 units of IPO shares at the face value of Rs.100 from 31 Baishak 2075 to 3 Jestha 2075.
The company has allocated 4% or 33,600 units to employees & 5% or 42,000 units to existing mutual funds. Remaining 7,64,400 units are allocated for general public.
The issue manager of IPO is NIBL ACE Capital Limited.
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Currently, its paid up capital is Rs.42 crore. After IPO for local & public, paid up capital will reach to Rs.56 crore. Capital structure will be 77:10:15 among promoter local people & general public.
Rairang Hydropower operates 500KW projects in Dhading district. Further it is developing 9.90MW in the Taplejung & Panchthar districts.
