River Falls Power to issue 2.73m units IPO shares on May 11

KATHMANDU: River Falls Power is set to issue 2,730,000 units worth Rs 273 million as initial public offering (IPO) to the general public from May 11 this year. Out of a total of 2,730,000 units, the general public will be able to apply for the purchase of 2,538,900 units while 2% or 54,600 units have been secured for the company employees and 5% or 136,500 units for mutual funds. The general public will be able to apply for a minimum of 10 units and a maximum of 100,000 units from May 11 to 18. The company has stated that the application will remain open till May 25 if the application is not received as per the demand. Investors can apply for the purchase of shares using online portal 'My Shares' or all C-ASBA member banks and financial institutions and their branch offices approved by the Securities Board of Nepal, the company said in a statement. The company is constructing 10.30 MW Piluwa Khola Small Hydropower Project using the water from Piluwa River in Dharmadevi Municipality of Sankhuwasabha district. The estimated cost per MW of the project will be Rs 180,615,000 including interest during Construction (IDC). READ ALSO:

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