NIC ASIA Capital Limited has signed an agreement with River Falls Power Limited to manage and facilitate 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. Chief Executive Officer of NIC ASIA Capital Ltd. Ram Chandra Khanal and Executive Director of River Falls Power Limited Dr. Bhogendra Kumar Guragain signed the agreement on June 5, 2017 Monday. NIC ASIA Capital Limited 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.
This 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.