Ru Ru Jalbidhyut Pariyojana Limited (RJPL) is issuing its 4,07,705 unit IPO shares to the project-affected locals of Gulmi District from Falgun 7, 2077 to Falgun 21, 2077.
The IPO issue for locals is open from Falgun 7 – 21. If unsubscribed, the issue can be extended to Chaitra 8, 2077. The interested locals can place their applications for a minimum of 10 units and a maximum of 4,00,000 units.
NMB Capital Limited has been appointed as the issue manager for the IPO issuance.
The company has a total of 40,77,055 shares registered. 4,07,705 unit shares will be issued to the locals at the rate of Rs. 100. Meanwhile, 4,07,706 units will be issued to the general public at a premium rate of Rs. 120.
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After the IPO is issued in two phases, first to locals and then to the public, the promoter: public shareholding ratio of the company will be 80:20, and paid-up capital will be Rs 40.77 crore.
ICRA Nepal has assigned a grading of [ICRANP] IPO Grade 3, indicating average fundamentals, to the proposed initial public offering (IPO) of NPR 89.695 million of Ru Ru Jalbidhyut Pariyojana Limited.
Incorporated on March 22, 2006, as a private limited company, RJPL was converted into a public limited company on July 23, 2015, to facilitate public participation. As of mid-July 2020, the paid-up capital of RJPL stood at ~NPR 326 million. As of the same date, major promoters include Mr. Bharat Prasad Nepal (15%), M/S Subhakarma Investment Company (12%), and M/S Samuchit Investment Company (11%). RJPL has one operational hydropower project – Upper Hugdi Khola Hydropower Project of 5MW, in Gulmi District of Province-5 of Nepal. A run-of-the-river (R-o-R) type project, it has been developed at a 43% probability of exceedance (Q43). The project came into commercial operation from March 23, 2015, as against a required COD of March 28, 2014, and was developed at a total cost of NPR 745 million.