What is Opening Price Range of River Falls?
The opening price range of River Falls Power Limited is between Rs. 87.98 – Rs. 263.94. This opening price range is defined according to the Net worth Per Share of fiscal year 2077/78. You can check the official details of the each fiscal year below.
How opening price range is determined?
Nepal stock exchange (NEPSE) determined the opening price range of new stock based on the book value of company. For example, if book value of the company’s latest audited report is 100 then the opening price range will be 100 – 300. The minimum price should be same as book value and maximum price will be book value x 3.
About River Falls IPO
River Falls Power Limited (RFPL) issued its IPO to the general public from 28th Baisakh, 2079. The company issued 27,30,000 units of ordinary shares worth Rs. 27.30 crores at par value of Rs. 100. This 39% of the company’s issued capital. 2% of the issue worth 54,600 shares have been allocated for employees of the company and 5% worth 1,36,500 shares for mutual funds. The remaining 25,38,900 shares is subscribed by individual public.
The issue had received applications from 18,05,440 valid applicants who had applied for a total of 2,01,95,910 units. The issue was oversubscribed more than 7.95 times.
After the allotment, a total of 2,53,890 applicants were allotted 10 units each via lottery, and the remaining 15,51,550 applicants were returned empty hands.
About River Falls Company
River Falls Hydropower Pvt. Ltd. was established as a Pvt. Ltd Company in October, 2004 under the Company Act 1993 of Nepal by a group of entrepreneurs and later on converted into Public Ltd Company in October, 2015. The company works towards the electrification of the nation by supporting government by producing the electricity. Energy is a basic means meeting both the basic requirements of life support system and executing all development efforts. The company thus has planned to contribute towards the solution of present power shortage by developing hydropower projects as well to contribute towards the rural economic development of Nepal.
Useful Articles
- Opening Price Range of Balephi Hydropower
- 7 Mistakes To Avoid While Applying For IPO
- CASBA Charge of Nepali Banks
- Everything You Need to Know About Collateral