Last Day to Apply for Locals IPO of Rawa Energy Development; Issue Closing Today

Rawa Energy Development Limited is closing the issue of its IPO for project-affected locals today i.e. on 24th Baisakh, 2080. The issue had opened on 23rd Chaitra, 2079.

The issued capital of the company is Rs. 28 Crores of which 10% i.e. 2,80,000 unit shares worth Rs. 2.8 crores have been allocated to project-affected locals of Khotang District. Meanwhile, 20% of the company's issued capital i.e. 560,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 56,000 units shares were allocated for Nepalese citizens working abroad, the issue of which closed on 7th Baisakh, 2080.

For the project-affected locals, the minimum application quantity is 10 units while the maximum quantity is 10,000 units.

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

CARE Ratings Nepal Limited (CRNL) has assigned the issuer rating assigned of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.

Rawa Energy Development Ltd is a public limited company, incorporated on August 16, 2009, as a private limited company and later converted to a public limited company on June 28, 2019. It is promoted by business persons having long experience in hydropower and other sectors for setting up Hydroelectric Projects (HEP) in the territory of Nepal. The company has a 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District which has been in commercial operation since September 20, 2020. The project is constructed under BOOT (Build, Own, Operate, and Transfer) mechanism.

Closing Notice