Ru Ru Jalabidhyut Pariyojana Concludes IPO Allotment (IPO Result)

April 16, 2021 | Investopaper

Ru Ru Jalabidhyut Pariyojana IPO Allotment Result

The IPO allotment of Ru Ru Jalabidhyut Pariyojana Limited has concluded on Friday. The issue manager NMB Capital Limited has alloted the shares through lottery.

About 16,83,121 investors had applied for the shares. Out of the total, 8,535 applicants were rejected. The issue manager has alloted 10 shares each to the lucky 37,916 applicants out of the valid applicants.

To view the IPO result, Click the link below:


Ru Ru Jalabidhyut Pariyojana IPO

Ru Ru Jalabidhyut Pariyojana Limited sold 4,07,705 shares in the Initial Public Offering (IPO) from Chaitra 20, 2077 BS. Due to oversubscription of shares, the IPO issue was closed on Chaitra 24, 2077 BS. If the issue had remained under-subscribed until that period, the deadline for application  would extend to Baisakh 3, 2078 BS.

The company floated the shares at a premium price of Rs 120. The par value of each share is Rs 100. Hence, Rs 20 is the premium on the face value.

Out of the total issue, employees of the company will receive 2 percent or 8,154 shares. Likewise, 5 percent or 20,385 shares are reserved for the mutual fund schemes. Hence, the general public will participate in the remaining 379,167 shares.

Interested investors could apply for a minimum of 10 shares and a maximum of all available shares.

In the first phase of the IPO, the company floated shares to the locals of the project-affected areas from Falgun 7, 2077 BS to Falgun 21, 2077 BS. The company sold 4,07,705 shares to the locals of Gulmi District at Rs 100 per share.

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Securities Board of Nepal (SEBON) had provided the final approval for the issuance of IPO on Magh 21, 2077 BS. The company had submitted the application for the IPO on Ashad 25, 2077 BS.

Thus, the company is planning to collect Rs 8,96,95,220 as capital from the IPO.

NMB Capital Limited is the issue manager for the IPO.

ICRA Nepal has provided an [ICRANP] IPO Grade 4+ ratings to the proposed IPO of Ru Ru Jalbidhyut Pariyojana Limited.

About Ru Ru Jalabidhyut Pariyojana Limited

Ru Ru Jalbidhyut Pariyojana Limited is a hydropower development company in Nepal. It mainly focuses on hydropower development and consulting business.

The company is currently operating Upper Hugdi Khola Jalabidhyut Pariyojana Ltd. It is located at Hugdi Khola of Gulmi district and has a capacity of 5000 kW (5 mW). The project started commercial electricity generation from Chaitra 9, 2071 BS. The per-megawatt cost of project stood at 14.89 crores.

The company has a current paid-up capital of Rs. 32.62 crores. After the issue of the IPO, the capital will increase to Rs 40.77 crores.

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