Kathmandu, June 7
Rapti Hydro and General Construction Limited has begun issuing and selling ordinary shares to local residents who may be affected by the project. The firm will conduct an initial public offering (IPO) of 6,12,793 lots worth Rs. 61,279,300 with a face value of Rs. 100.
If the residents of Rukumpur and Rukumpaschim districts who are impacted by the project will not apply by June 21, then the general public will be allowed to apply for the acquisition of a minimum of 10 lots and a maximum of 600,000 lots of shares by July 6.
The business is constructing a five-megawatt plant on the Rukumgad river, which flows through the villages of Sisne and Bhume in Rukumpur district. Investors can acquire shares through the ASWA system from participating banks and financial institutions in the Nepal Securities Board-licensed ASWA service.
According to Siddhartha Capital Limited, the company’s issue and sale manager, applications can be made at Global IME Bank’s Chipridaha and Musikot branches, Siddhartha Bank’s Putha Uttarganga and Musikot branches, and Prabhu Bank’s Musikot branch office. ICRA Nepal has assigned the firm a ”ICRA NP-IR BB Plus” rating.
