Rara Hydropower Company To Sell 12,00,000 Shares In Public Offering (IPO)
May 6, 2022 | Investopaper
Rara Hydropower Company Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed Mega Capital Markets Limited as issue and sales manager.
The agreement for public offering was inked by Mr. Shankar Lal Baidya, Director of Rara Hydropower Development Company and Mr. Sabir Bade Shrestha, Chief Executive Officer of Mega Capital Market Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON). If approved by SEBON, the hydropower will issue shares to the public.
In the first phase, the company will sell the shares to the locals of the project affected areas. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.
In total, the company plans to sell 12,00,000 shares at a par value of Rs. 100. Hence, the total public issue amounts to Rs. 12 crores.
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