Another IPO knocks investors door !!! Rairang Hydropower to float share from Baisakh 31st

Rairang Hydropower has published its offer letter today. 

As per the letter, the company will undergo a public issue from 31st Baisakh, 2075. The issue will close on 3rd Jestha, if early. The issue can extend upto 29th Jestha in worse case. Rairang Hydropowe will float 8.4 lakh unit shares at a face value of Rs 100. 

Out of the total issue units, 33,600 has been set aside for employees whereas 42000 units for mutual funds. Thus, 7,64,400 units will be available for general public. The issued amount will be 15% of the total capital. NIBL ACE Capital has been appointed as the issue manager for the issue.  

Rairang Hydropower Development company had previously issued shares, amounting 10% of the capital, to the locals of panchthar and taplejung district.