River Falls Power Extends Rights Share Application Deadline Until Ashoj 26

River Falls Power Limited has extended the deadline for its 100% rights share issuance, which opened on Bhadra 23. Investors can now apply until Ashoj 26.

The company is issuing rights shares at the ratio of 1:1, meaning one new share for every one existing share. In total, the company is offering 7 million rights shares at a par value of NPR 100 per share, amounting to NPR 700 million.

For this rights offering, the company had set its book closure date on Shrawan 26. Therefore, only shareholders who held shares traded on NEPSE up to Shrawan 25 are eligible to apply.

Prabhu Capital Limited is the issue and sales manager for the rights shares. Applications can be submitted through Prabhu Capital, as well as selected branches of Prabhu Bank in Besisahar (Lamjung), Pokhara, Birgunj, Ilam, Butwal, Surkhet, and Dhangadhi. In addition, investors can apply via banks and financial institutions participating in the C-ASBA system, and also online through Mero Share.

Currently, the company’s paid-up capital stands at NPR 700 million. After the rights issuance and allotment, the paid-up capital will reach NPR 1.4 billion.

The funds raised from the rights issue will be used to repay bank loans taken for the project, which increased due to cost overruns caused by the devastating flood in the Down Piluwa River and other uncontrollable factors.