River Falls Power to Issue 1:1 Right Share
July 22, 2024 | Investopaper
River Falls Power Limited (RFPL) is planning to sell right shares to the shareholders. The company has decided to float the right shares in the ratio 1:1 This means that the shareholders with 100 shares can apply for the additional 100 shares.
For this purpose, the hydropower company has submitted the application to the Securities Board of Nepal (SEBON) on Ashad 12, 2081 BS. Only after the approval from the regulatory body SEBON, the company can issue the right shares.
At present, RFPL has a paid up capital of Rs. 70 crores. Hence, the company has plans to sell right shares worth Rs. 70 crores. After the right issue, the paid-up capital will reach Rs. 140 crores.
The company has stated that it will pay the loans taken from BFIs from the proceeds received through right offering.
River Falls Power Limited is currently developing a 10.3 MW Down Piluwa Khola Hydropower Project on the Piluwa river in Dharmadevi municipality of Sankhuwasabha district.
The company has appointed Prabhu Capital Limited as issue and sales manager for the right offering.
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