70 Lakh Units IPO Shares of River Falls Power (RFPL) Listed in NEPSE; What's the Opening Range?

70,00,000 units IPO shares of River Falls Power Limited (RFPL) have been listed in NEPSE. This includes the shares held by promoters and the quantity issued to the general public and project-affected locals.

Out of total 70,00,000 units shares worth Rs. 70 crores, 27,30,000 units worth Rs. 27.30 crore had been issued as Initial Public Offering to the general public from (Baisakh 28-Jestha 4, 2079). Out of the offered 27,30,000 units; 2% of the issued capital i.e. 54,600 units were set aside for the employees of the company and 5% for mutual funds. The remaining 25,38,900 units were for the general public. Whereas, 64% which equates to 4,20,000 unit shares was issued by promoter shareholders. The company has a total of 3,570,000 promoter shares. Earlier 7,00,000 units which is 10% of the total capital were allotted to the project affected locals of Sankhuwasabha district.

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. As per the allotment module, a total of 2,53,890 applicants were allotted 10 units each via lottery and the remaining 15,51,550 applicants returned empty hands. A total of 54,600 units were allotted to the staff of the company and 1,36,500 units were allotted to the mutual fund's scheme. In total 3,819 applicants who applied for 47,600 units were disqualified.

The opening range for the first transaction is Rs. 87.98 to Rs. 263.94. The IPO shares will trade in the secondary market the next day if the company signs the agreement with NEPSE.