Out of 560,000 units of total issued share, the company allocated 224,000 units of shares to locals of directed affected areas; Thurpu of Panchthar and Sablakhu VDC of Taplejung. Similarly, the hydro company allocated 336,000 units of shares to all general public of Panchthar and Taplejung.
The local people can apply for minimum of 50 units and maximum of 2800 unit of shares.
Ace Capital Ltd has been appointed as issue manager by the Rairang Hydropower to manage the issue. General investors from the affected area can apply for the IPO from Medibung Bazaar and Phidim Branch of Civil Bank.
Similarly, the investors can apply for the shares from Phidim Branch of Machhapuchchhre Bank and NIC Asia Bank and Phidim branch and Phungling branch of NMB Bank as well.
Presently, the company has issued capital of Rs 560 million. The promoter shareholders have ownership of 75 percent in the company. After the distribution of the IPO, the company will issue 15 percent i.e 840,000 units of shares to employees and general public.
Rairang Hydropower is planning to generate electricity from 9.9MW Iwakhola Hydropower Project being developed by the company in the border area of Panchthar and Taplejung. Earlier, the company has developed and operated 500KW hydropower project in Dhading.
