River Falls Power (Piluwa Khola) appoints NIC Asia Capital as issue manager to float 34.30 lakh units IPO shares

NIC ASIA Capital Limited has signed an agreement with River Falls Power Limited to manage issue of its initial public offering (IPO) of 34,30,000 units Ordinary Shares of the 9.5 MV Down Piluwa Khola Small Hydropower Project at Rs. 100 for public.

Mr. Ram Chandra Khanal, Chief Executive Officer of NIC ASIA Capital Ltd. and Dr. Bhogendra Kumar Guragain, Executive Director of River Falls Power Limited have signed the agreement on June 5, 2017.

Issuing a press statement published yesterday, NIC ASIA Capital will issue 34,30,000 units of shares of River Falls Power Limited i.e. 49% of the total capital of the company among public and project affected residents of Sankhuwasabha.

The Hydropower project is located at Sankhuwasabha has already received consortium financing lead by Century Bank and other banks including Citizens Bank International, Nepal Investment Bank, Prabhu Bank, and VIBOR Society Development Bank.

Along with providing Issue Management services, NIC ASIA Capital has been providing Depository Participants (DP), Portfolio Management Services (PMS), Registrar to Shares (RTS), and advisory services to its clients. Recently, NIC ASIA Capital has also introduced Free of Cost Demat account with service fee waived for the first year.

Source: Sharesansar