Sanjen Jalavidhyut Company Limited and Rasuwagadhi Hydropower Company Limited are closing second stage of their IPO shares today (Chaitra 13, 2074). The issue is open for employees of Employees Provident Fund, employees of promoter institutions and employees of the concerned local offices of Rasuwa District.
Sanjen Jalavidhyut Company Limited is closing IPO of total 16,42,500 units ordinary shares. In the
second phase, the issue has been open for 3,65,000 units shares for staffs of Employees Provident Fund and 12,77,500 units for the employees of promoter institutions and employees of concerned department of Rasuwa district. The employees of EPF can apply for 50 units to 1,000 units shares and the employees of promoter institutions can apply for 30 units to 300 units. The issue was open from Chaitra 5, 2074.
In the
first stage, it had issued 71,17,500 unit shares from Falgun 11-Falgun 30, 2074 for staffs having membership of Employees Provident Fund.
And at last, 12,77,500 units shares have been allocated for employees of promoter companies.
Citizen Investment Trust is the issue manager for the IPO of Sanjen, along with co-issue management of Sunrise Capital, Global IME Capital, NMB Capital, Civil Capital Limited and Prabhu Capital Limited.
Likewise,
Rasuwagadhi Hydropower Company Limited is also closing a total of 30,78,945 units ordinary shares. In the
second phase, the issue has been open for 6,84,210 units shares for employees of Employees Provident Fund and 23,94,735 units for the employees of promoter institutions and employees of concerned department of Rasuwa district from Chaitra 5-Chaitra 13, 2074 . The employees of EPF can apply anywhere from 50 units to 2,500 units shares and the employees of promoter institutions can apply for 50 units to 500 units.
In the
first stage, it had issued 1,33,42,095 unit shares from Falgun 11-Falgun 30, 2074 for membership of Employees Provident Fund. 6,84,210 units shares have been allocated for EPF employees.
Siddhartha Capital Limited is the issue manager for the IPO of Rasuwagadhi Hydropower. NIBL Ace Capital, Global IME Capital and Sunrise Capital are co-issue managers.
| IPO Issue of Sanjen Jalavidhyut Company Limited & Rasuwagadhi Hydropower Company Limited
(1st Phase from Falgun 11-30, 2074 & 2nd Phase from Chaitra 5-13, 2074) |
| Company |
Issue Open Date |
Issue Close Date |
Total Issued Units |
Applicable Minimum/Maximum Units |
Eligibile Applicants |
| Sanjen |
Falgun 11, 2074 |
Falgun 30, 2074 |
71,17,500 |
50 to 300 units |
Staffs having membership of EPF till Mangsir 22, 2074 and new members registered in EPF till Mangsir 26, 2074 |
| Sanjen |
Chaitra 5, 2074 |
Chaitra 13, 2074 |
3,65,000 |
50 to 1,000 units |
Employees of Employees Provident Fund |
| Sanjen |
Chaitra 5, 2074 |
Chaitra 13, 2074 |
12,77,500 |
50 to 300 units |
Employees of NEA, Chilime Hydropower Company and staffs of applicable DDC and VDCs of Rasuwa district |
| Total Units |
87,60,000 (Sanjen Jalavidhyut Company Limited) |
| Rasuwagadhi |
Falgun 11, 2074 |
Falgun 30, 2074 |
1,33,42,095 |
50 to 500 units |
Staffs having membership of EPF till Poush 20, 2074 |
| Rasuwagadhi |
Chaitra 5, 2074 |
Chaitra 13, 2074 |
6,84,210 |
50 to 2,500 units |
Employees of Employees Provident Fund |
| Rasuwagadhi |
Chaitra 5, 2074 |
Chaitra 13, 2074 |
23,94,735 |
50 to 500 units |
Employees of NEA, Chilime Hydropower Company and staffs of applicable DDC and VDCs of Rasuwa district |
| Total Units |
1,64,21,040 (Rasuwagadhi Hydropower Company Limited) |
| Shares allotted under these issues have lock-in period of 3 years |
How to apply?
Applicants can apply from any Banks and Financial Institutions (BFIs) that collect IPO applications through C-ASBA service. Till date, 2074, a total of
62 BFIs have registered under C-ASBA.
As per the offer letter of Rasuwagadhi, the applications can also be collected under ASBA system. Applicants must provide their identification card that verifies their eligibility for these IPOs.
Shares allotted under these issues are locked-in and cannot be traded. The lock-in is released 3 years after all ordinary shares have been allotted to the general public.
Sanjen and Rasuwagadhi Hydropower – subsidiaries of Chilime Hydropower Company
Both Sanjen Jalavidhyut Company and Rasuwagadhi Hydropower Company are subsidiaries of Chilime Hydropower Company Limited (CHCL).
After the IPO of Sanjen, 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 and will have 38% and 10% shares respectively. Rasuwa DDC and 18 VDCs will have 3% of the total shares.
Likewise, after the IPO of Rasuwagadhi, employees of EPF will have 1% shareholding, contributors of EPF will have 19.50% shareholding and employees of promoter companies will have 3.50% shareholding in the company.
Both hydropower companies have set aside 10% for project-affected local people and 15% for general public.
Hydropower Plants
Sanjen Jalavidhyut Company is developing 14.80 MW Upper Sanjen and 42,50 MW Sanjen Hydropower project, both of which are expected to begin commercial operation from Magh 1, 2075.
Rasuwagadhi Hydropower is developing a 111 MW, run-of-river Rasuwagadhi Hydropower Project in Bhotekoshi river, Rasuwa. The hydropower plant is expected to generate electricity from Poush 15, 2076.
