Ruru Hydropower Project IPO to get an opening range of Rs 356 maximum
The shares of Ruru Hydropower Project Limited, which has issued shares at a premium price, will be open for trading in the secondary market upto a maximum of Rs 356.
As per the details published by the company for the issuance of IPO, the company’s shares could obtain an opening range up to a maximum of Rs 356 as Nepse sets the opening day trading range up to three times the minimum net worth per share. However, trading can be done at any price ranging from the minimum range of net worth to the maximum range.
The company has a net worth of Rs 118.84 per share as per its financial statements for the fiscal year 2076/77. On this basis, Nepse will determine the opening range for the company’s first trading from a minimum of Rs 118.84 per share to a maximum of Rs 356.52.
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Nepse has set the opening range from net worth to three times the net worth for the first transaction on the opening day or first transaction day of each company.
The company has issued a total of 47,706 IPOs at the rate of Rs 120 from April 6 to April 8. Out of which 8,154 shares were reserved for employees and 20,385 shares for collective investment funds and 3,79,167 shares were distributed to the public.
As per the distribution held on Friday, Baisakh 3 – 37,909 people obtained 10 lots of shares and 7 people got 11 lots of shares.
The company has informed that it has started the process for listing in CDS and Clearing Limited and Nepse through the share registrar NIBL Ace Capital for trading in the secondary market.