IPO Sale Open of NRN Infrastructure and Development Limited from Today (July 31st 2020)

NRN Infrastructure and Development Limited's IPO sale worth around Rs 34 Crore has been opened. The company has opened 30 per cent of its current issued capital of Rs 1 arba 13 Crore and 26 lakh ,or Rs 3,398,046 in an IPO from today (July 31 2020).The company has issued a total of 3,398,046 ordinary shares at the face value of Rs 100 per share since July 31. Out of the 33 lakh 98 thousand 46 shares issued by the company, 5 percent or 169 thousand 902 ordinary shares have been distributed for the collective investment fund and 2 percent or 67 thousand 961 shares have been reserved for the employees. The general public will be able to apply for the remaining 3160183 .A minimum of 10 units and a maximum of 3160183 can be applied for the purchase of the shares. The eviction shutdown will be on July 7 at the earliest and on August 19 at the latest.

The issue and sale manager of the company is Sanima Capital Limited. Investors can apply from all ASBA member banks and financial institutions and their branch offices approved by the Nepal Securities Board. Apart from this, application can also be made through MeroShare software.

Credit rating agency Care Ratings Nepal has given Care NP IPO grade 4 rating to the IPO that the company is about to issue. This indicates that the company's fundamentals are weaker than average.

By FY 2075/76, the company's net worth per share was Rs 102.06 and earnings per share was Rs 2.4. The company had earned an accumulated profit of Rs 16.3 million in the same period.

Similarly, the company has projected to earn accumulated profit of Rs. 24170000 by the end of the Fiscal Year 2076/77. Accordingly, the company has projected a net worth of Rs 102.13 per share and earnings per share of Rs 2.4.

About Company

“NRN Infrastructure and Development Limited (NRNIDL) was registered in Kathmandu under the Company Act 2063,” in Nepal (September 2012) with the main motive of collective investment in hydropower sector in initial phase meanwhile exploring other investment avenues of national priorities too. Initially the company was registered in the name NRN Investment Limited which was changed to NRN Infrastructure & Development Limited in February 2, 2017.

With liberalization in the state policies that allows private investors to build and operate hydropower projects and in the context of high demand for power in the country, significant development as expected of the energy sector is yet to happen. Investment in this sector washighly awaited. At the very outset, with major objective to mobilize the knowledge, skills, capital and other resources for the socio-economic development of Nepal in co-operation with the government, “NRN Infrastructure and Development Limited was registered in Kathmandu under the Company Act 2063,” in Nepal (September 2012) with the main motive of collective investment for a swift and smooth inflow of capital investment in prioritized sectors in Nepal.

The registered office of the company is located in Kathmandu, Nepal. The objective of the company is to make investment in the development sectors such as hydropower sector thereby contributing to the overall development of Nepal.

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