River Falls Power Limited has started issuing rights shares from today. The company is offering 70 lakh rights shares at a face value of Rs 100 each, worth a total of Rs 70 crore. This is equal to 100 percent of its current paid-up capital, meaning shareholders can buy one rights share for every share they already own.
The company had set Shrawan 26 as the book closure date for this issue. Only shareholders who held shares until Shrawan 25 are eligible to apply.
The deadline to apply for the rights shares is Asoj 12. Investors can apply through the issue manager, Prabhu Capital, or at Prabhu Bank branches in Besisahar, Pokhara, Birgunj, Ilam, Butwal, Surkhet, and Dhangadhi. Applications can also be submitted through any C-ASBA member bank or financial institution, as well as via the Mero Share platform.
Care Ratings Nepal has given River Falls Power a ‘CARENP Double B Minus Issuer Rating’, which means the company has a moderate risk of not meeting its financial obligations on time. Prabhu Capital Limited is managing the rights share issue, and the Securities Board of Nepal approved it on Shrawan 9.
