IPO Alert- IPO of River Falls Power Limited from tomorrow may 11

 IPO of River falls Power Limited is about to start on the 11th of May 2022. Don’t forget to apply for the IPO after reading the prospectus. Rivers falls power limited is a hydropower company that has not made a profit yet and has a projection to make a profit in the coming years. The issue will be open from 28th Baisakh and will be extended to Jestha 11, 2079.

River Falls Hydropower Pvt. Ltd. was founded in October 2004 as a private limited company under Nepal’s Company Act 1993 and was later converted to a public limited company in October 2015. The company contributes to the electrification of the country by supplying electricity to the government. Energy is a fundamental means of meeting both the basic needs of the life support system and carrying out all development efforts. As a result, the company intends to contribute to the current power shortage by developing hydropower projects, as well as to Nepal’s rural economic development.

54,600 units of the total shares are reserved for the company’s employees. Similarly, mutual fund schemes receive 1,36,500 shares. As a result, the general public is eligible to apply for the remaining 25,38,900 shares.

River Falls Power Limited sold 700,000 shares in the first phase of the IPO to residents (locals) of the Sankhuwasabha District on the 10th of April, 2022, or Chaitra 27, 2078 BS. The IPO issue was closed on Baisakh 11, 2079 BS due to the full subscription of shares. Interested locals could apply for as few as ten shares and as many as one lakh shares.

On Chaitra 10, 2078 BS, the Securities Board of Nepal (SEBON) approved the company’s public issuance. On Shrawan 13, 2078 BS, the company submitted the application to the board.

River Falls IPO