Kathmandu: River Falls Power’s IPO has received applications for 73 lakh 31 thousand 400 lots. According to CDS and Clearing Limited, 621,844 people have applied for Rs 733.14 million till 5:09 pm on Thursday. The company has issued 2,538,900 shares to the public since Wednesday.
Out of the total 27 lakh 30 thousand ordinary shares issued, 5% or 1 lakh 36 thousand 500 shares have been allotted to the collective investment fund and 2% or 54 thousand 600 shares have been allotted to the employees and the remaining shares have been opened to the public. Applications can be submitted till May 15. Investors will be able to apply for a minimum of 10 lots and a maximum of 100,000 lots.
Investors will be able to replenish their shares through C-ASWA Banks and Financial Institutions and My Shares. Rating agency Care Rating Nepal has awarded River Falls IPO ‘Care NP Double B Minus IS’. Which indicates an average risk in the company’s ability to bear responsibility. Prabhu Capital is the sales manager in this IPO.