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Ru Ru Hydro’s IPO allottment on Friday

Ru Ru Hydro’s IPO allottment on Friday

Kathmandu, April 13

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The IPO of Ru Ru Hydropower Project will be distributed on Friday, Baisakh 3, 2078 BS.

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The sales manager, said that the distribution is being prepared for Friday even though the time has not been fixed. The company had sold the IPO to the public from Chaitra 20 to Chaitra 24.

According to the sales manager, applications for 2,34,14,140 lots were received from 1,670,911 people till the last day of the sale. The sales manager has informed that this number and lot may change during the processing of data.

The company has issued 4,07,706 IPO lots to the public. Out of the total lots, 8,154 lots have been reserved for the employees of the company and 20,385 lots for collective investment funds and the remaining 3,79,167 lots were issued for public.

To the locals, the company issued IPO at Rs. 100 per unit. The company issued an IPO with a premium price to the public. The company has a face value of Rs. 100 and Rs. 20 per premium which was Rs. 120 per unit of IPO to the public.

ICRA Nepal has given a grade 3 rating to the company’s IPO, indicating that it has a medium capacity to meet its financial obligations on time. The IPO sales manager is NMB Capital. Applications can also be submitted through Sales Manager along with all the participating banks and financial institutions and branch offices of the three CASBA services through Mero Share.

Currently, the paid-up capital from the founders alone is Rs. 32 crore 61 lakh 64 thousand 4 hundred. After the issuance of IPO to the public, the company’s paid-up capital will reach Rs. 40 crore 77 lakh 5 thousand 5 hundred. The company has received the approval of the board on Magh 21 to issue an IPO worth Rs 4 crore 77 lakh 5 thousand 5 hundred.

The company has started commercial production from Chaitra 9, 2071 BS by constructing a 5 MW capacity hydropower project in Chandrakot village municipality of Gulmi district. The company says that the project is generating 4.36 MW of electricity per day.