Sanjen Hydropower 7th AGM on Poush 7; to endorse issuance of IPO shares

Sanjen Hydropower Company Limited will be convening its 7^th Annual General Meeting (AGM) on Poush 7, 2074. The AGM is going to be held at the central office of Sanjen Hydropower Company, Maharajgunj, Kathmandu at 3:00 PM. Main agendas of the AGM are :

• To amend article of association and memorandum of association with the change in shareholding structure.
• To change the address of its registered office.
• To issue IPO shares.

Other Agendas of the AGM include financial highlights of 2073/74, appointment of auditor for the FY 2074/75. Sanjen Hydropower is seeking approval to float 87.60 lakh units IPO shares worth Rs 87.60 crore to employees of promoter shareholding companies, employees having membership of Employee Provident Fund (EPF) and employees of lending institutions. Sanjen Jalavidhyut Company is a subsidiary of Chilime Hydropower Company Limited (CHCL) and was incorporated in February 2010 as a public limited company. Sanjen has planned to develop two new projects–Sanjen Hydroelectric Project having capacity of 42.5 MW and Sanjen (Upper) Hydroelectric Project (SUHEP) of capacity 14.8 MW in Rasuwa district. After the IPO, contributors of EPF will have 19.50% shareholding, employees of EPF will have 1% shareholding and employees of promoter companies will have 3.50% shareholding in the hydropower company. CHCL and Nepal Electricity Authority are major promoters of the company.