River Falls Power Limited is set to issue 100% rights shares starting from Bhadra 23. The company plans to offer 70 lakh shares at a face value of Rs. 100 each. This means existing shareholders will get one new share for every share they already own.
Eligibility and record date
Only those holding shares by the record date, Shrawan 25, will be eligible to apply. The company had closed its books for one day on Shrawan 26 to prepare for the rights issue.
How to apply
Investors can apply through Prabhu Capital, which is managing the issue, or at select Prabhu Bank branches in Besisahar, Pokhara, Birgunj, Ilam, Butwal, Surkhet, and Dhangadhi. Applications are also accepted through participating banks and financial institutions approved by the Nepal Securities Board and via the Meroshare platform.
The last date to submit applications is Ashoj 12.
Care Rating Nepal has given River Falls Power a ‘CARE NP BB-’ rating for this issue, indicating moderate risk in meeting financial obligations on time.
Prabhu Capital is handling the rights issue and the company had received approval from the Nepal Securities Board for this offering on Shrawan 9.
