Ru Ru Hydro IPO allotted today; Lucky 37,916 individuals received 10 units

Kathmandu, April 16

The IPO of Ru Ru Hydropower Project has been allotted today. The company has sold the IPO to the public from Chaitra 20 to Chaitra 24.

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. Today, 37,916 people have received shares at the rate of 10 lots.

The allottment of the company’s IPO was held at the office of Securities Sales Manager NMB Capital at Nagpokhari in Naxal, Kathmandu. According to the sales manager, applications for 23,414,140 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.

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.