Rapti Hydro and General Construction Limited has opened the issue and sale of ordinary shares to the locals who may be affected by the project. The company will open the sale of 6,12,793 lots of initial public offering (IPO) at a face value of Rs. 6,12,79,300 from today.
The locals of Rukumpur district and Rukumpaschim district affected by the project will be able to apply for the purchase of minimum 10 lots to maximum 600,000 lots of shares by July 22 if they do not apply as per the demand.
The company is constructing a five-megawatt project on the Rukumgad river flowing through Sisne and Bhume villages of Rukumpur district. Investors can apply for purchase of shares through participating ASWA system from participating banks and financial institutions in the ASWA service licensed by the Nepal Securities Board.
Similarly, applications can be submitted from Global IME Bank’s Chipridaha and Musikot branches, Siddhartha Bank’s Putha Uttarganga and Musikot branches and Prabhu Bank’s Musikot branch office, said Siddhartha Capital Limited, the company’s issue and sale manager. The company has been given ‘ICRA NP-IR BB Plus’ grading by ICRA Nepal.