Rairang Hydropower's IPO allotment scheduled for today || Business Partner Nepal.

Rairang Hydropower Development Company (RAIRANG) had issued 8,40,000 unit shares at par value of Rs 100 from Baisakh 31 till Jestha 03 of 2075. The issue was oversubscribed by more than 17 times.

According to the officials at privy, the allotment will be held tomorrow i.e Jestha 09, 2075.

From the total of 8,40,000 shares, 33,600 units or 4% is separated for the employees of Rairang and 42,000 units or 5% is separated for the Mutual Funds. The remaining 91% is open for general public. The issued IPO is 15% of its total capital. NIBL Ace Capital has been appointed as the issue manager for the issue.

Rairang Hydropower Development Company Limited operates 500 KW Rairang Hydroelectric Project in Dhading district. It is developing 9.90MW Iwakhola Hydroelectric Project in the border of Taplejung and Panchthar districts. The company has projected commercial operation of the 9.90 MW project before 2074 Magh end. The authorized capital of the hydropower company is Rs 1 arba. Its paid up capital is currently Rs 42 crore. After IPO for locals and general public, its paid up capital will reach Rs 56 crore. Promoters will own 75% of the company, locals of project-affected area will own 10% and general public will own 15% after the IPO.

NIBL ACE CAPITAL