Last Day to Apply for River Falls Power 100% Rights Issue
River Falls Power’s 100% rights issue closes today. Investors can apply for 7 million shares at NPR 100 each, raising NPR 70 crore.
River Falls Power Limited’s 100% rights issue closes today, Asoj 26, 2082 BS, marking the final day for eligible shareholders to participate. The company issued rights in a 1:1 ratio, allowing shareholders to apply for 7 million shares at NPR 100 each, raising approximately NPR 70 crore.
The book closure for the rights issue was on Sawan 26, meaning shareholders holding shares until Sawan 25 were eligible to apply.
CARE Ratings Nepal has assigned the company a CARE NP BB- issuer rating, indicating moderate risk in meeting its financial obligations on time.
The IPO and rights issue manager is Prabhu Capital Limited. Investors can submit applications via the manager, selected branches of Prabhu Bank (Besisahar, Pokhara, Birgunj, Ilam, Butwal, Surkhet, Dhangadhi), or through SEBON-approved ASBA member banks and the ‘Mero Share’ online platform provided by CDS & Clearing Limited.
Currently, the company’s paid-up capital is NPR 70 crore. Following the rights issue and allotment, the paid-up capital will rise to NPR 140 crore.
Proceeds from the rights issue will be used to repay loans for projects impacted by flood damage in the Down Piluwa area, which escalated costs beyond initial estimates due to uncontrollable circumstances.