IPO oversubscribed by more than 8.37 times - River Falls Power (RFPL) IPO collects Rs 2.12 arba till last day

IPO oversubscribed by more than 8.37 times - River Falls Power (RFPL) IPO collects Rs 2.12 arba till last day

River Falls Power Limited (RFPL) had issued 27,30,000 units shares worth Rs 27.30 crore of ordinary shares to the general public as a part of their Initial Public Offering (IPO) from Baisakh 28 till Jestha 04, 2079.

According data presented by CDSC, 18,50,277 applicants have applied for a total of 2,12,59,570 units worth Rs. 2.12 Arba. Thus, the IPO was oversubscribed by more than 8.37 times in terms of number of units through ordinary applicants as of the closing day. This is the data as of 10 AM today.

Out of offered 27,30,000 units; 2% or 54,600 units, were allocated to employees, while another 5% i.e 1,36,500 units were for the mutual funds. The remaining 25,38,900 units were for general public. Interested people were required to apply for a minimum of 10 units and they can apply for a maximum of 100,000 shares. Prabhu Capital Limited was appointed as the issue manager for the IPO issuance.

River Falls Power Limited had issued 700,000 units shares worth Rs. 7 crore for the project-affected locals of Sankhuwasabha district from Chaitra 27, 2078 to Baisakh 11, 2079. After the IPO issuance, their paid up capital will reach Rs 70 crores, and the shareholding ratio of promoter – people of the affected area – general public will be 51%-10%-39%.

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