Investors can now apply for only 10 units for the IPO of Sanjen and Rasuwagadhi Hydropowers; Issue starts 6th Baisakh

Investors can now only apply for minimum 10 units (Rs 1 thousand) in PO of Sanjen Hydropower and Rasuwagadi Hydropower Company. Although SEBON has already directed the concerned authorities and companies to facilitate the provision of applying 10 units, the respective companies Sanjen and Rasuwagadhi have published minimum units to be applied as 50 units in their notice last Friday. Both the companies are required to publish another notice regarding the amendment in the minimum units to be applied in their IPOs.  Both the companies will be issuing IPOs from 6^th Baisakh, 2076.

Sanjen Jalavidhyut Company Limited under the “Janata ko Jalavidhyut” scheme of government is issuing 54,75,000 units ordinary shares worth Rs 54.75 crore to the general public. The early closing date of this IPO issue is Baisakh 10, 2076 and if the issue is not subscribed till Baisakh 10 then this issue can be extended upto Jestha 5, 2076. Out of the offered 54,75,000 units, 4% i.e. 2,19,000 units have been set aside for the employees of the company and 5% i.e. 2,73,750 units have been allotted for the mutual funds. The remaining 49,82,250 units are for the general public. The issue capital of the company is Rs 3.65 arba and 15% share of issue capital is being offered to general public. ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4+ (Pronounced as ICRA NP IPO Grade Four Plus) to the Rs.54.75 crore IPO of Sanjen Jalavidhyut Company Limited.

Citizens Investment Trust has been appointed as the issue manager for the IPO issuance whereas as Sunrise Capital Limited and NMB Capital Limited has been appointed as the co-issue manager

Rasuwagadhi Hydropower Company Limited under the “Janatako Jalavidhyut” scheme of the government is issuing 1,02,63,150 units ordinary shares worth Rs 1.02 arba to the general public. The early closing date of this IPO issue is Baisakh 10, 2076 and if the issue is not subscribed till Baisakh 10 then this issue can be extended upto Jestha 5, 2076. Out of the offered 1,02,63,150 units, 4% i.e. 4,10,526 units have been set aside for the employees of the company and 5% i.e. 5,13,157 units have been allotted for the mutual funds. The remaining 93,39,467 units are for the general public. The issue capital of the company is Rs 6.84 arba and 15% share of issue capital is being offered to general public. ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4+ (Pronounced as ICRA NP IPO Grade Four Plus) to the Rs.1.02 arba worth of Initial Public Offer of Rasuwagadhi Hydropower Company Limited. Instruments with this grading are considered to have below-average fundamentals.

Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance whereas as NIBL ACE Capital Limited, Sunrise Capital Limited and Global IME Capital Limited have been appointed as the co-issue manager.