Today is the last day to submit an application for Rawa Energy Development’s local IPO

Today is the last day to submit an application for Rawa Energy Development’s local IPO

For residents impacted by the project, Rawa Energy Development Limited is closing the offer of its IPO today, or on the 24th of Baisakh, 2080. The issue had started on Chaitra 23, 2079.

10%, or 2,80,000 unit shares worth Rs. 2.8 crore, of the company’s 28 crore rupees in issued capital have given to Khotang District residents who will impacte by the project.

A later date will see the issuance of 560,000 unit shares, representing 20% of the company’s outstanding capital. 10% of the shares, or 56,000 units, were set aside in this public offering for Nepalese nationals working overseas. The offering ended on the seventh day of Baisakh in 2080.

The lowest application quantity for the project’s localities is 10 units, while the maximum application quantity is 10,000 units.

The issue manager is selected as Prabhu Capital Limited. After this IPO, the promoter-public share ratio will be 70:30.

The issuer rating of ‘CARE-NP BB (Is)’ has give to Rawa Energy Development Ltd by CARE Ratings Nepal Ltd (CRNL). In terms of timely debt repayment in Nepal, issuers with this grade are believe to have low default risk.

About the Company

Founded on August 16, 2009, as a private limited business, Rawa Energy Development Ltd. was transforme into a public ltd company on June 28, 2019. It is support by business people with extensive expertise in hydropower and other industries for the establishment of Hydroelectric Projects (HEP) in Nepal.

In Khotang District, the firm has a 3 MW Upper Rawa Khola Small Hydropower Project (URKHP). Which has been in full service from September 20, 2020. The Build, Own, Operate, and Transfer (BOOT) construction method is use for this project.

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