Rairang Hydropower Development Company Ltd. (RAIRANG) has collected nearly Rs 1,38,10,43,000 from the initial public offering (IPO) issue. This is 18.08 times the amount of unit shares offered to the general public. There are 1,77,386 applicants that had applied for the IPO. This is 1,00,986 times more than those getting the IPO. Due to oversubscription, the allotment will for sure go into the lottery system and only 76,400 lucky applicants will be allotted 10 unit shares.
Rairang had floated this IPO of 8,40,000 unit shares at the face value of Rs 100 per unit share. Of these, 33,600 (4%) unit shares had been set aside for the employees and 42,000 (5%) unit shares for the mutual funds. The remaining 7,64,400 (91%) unit shares were offered for the general public. The IPO issued amount was 15% of the total capital. NIBL ACE Capital had been appointed as the issue manager for the issue.
Check the link below to read/download the IPO ISSUE OPEN NOTICE:
The hydropower company had issued the IPO for four working days, starting from Monday 14th May 2018 (31st Baishakh 2075) till Thursday 17th May 2018 (3rd Jestha 2075). The interested investors had the provision to apply for minimum of 50 unit shares worth Rs 5000 to maximum of 4,200 unit shares worth Rs 420,000.
Check the link below to read/download the IPO ISSUE CLOSE NOTICE:
Check the link below to read/download the IPO ISSUE CLOSE NOTICE:
Besides the ASBA registered BFIs, all interested investors had applied for the shares online at home through Mero Share as well as also from NIBL Ace Capital at Lazimpat and office of Rairang Hydro Development at Thapathali.
Check the link below to read/download the ANNOUNCEMENT LETTER:
Earlier, the company issued 560,000 unit shares of IPO, amounting 10% of the capital, to the locals of affected area of Panchthar and Taplejun districts.
Check the link below to read/download the PROSPECTUS:
Currently, the company has issued capital of Rs 560 million where promoter shareholders have 75% ownership in the company and the locals of project-affected area have 10% and general public 15%.
NepalStockNews: Saturday, 19th May, 2018.
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