IPO of Sanjen Jalavidhyut Company raises Rs 4.17 arba in total; oversubscribed by more than 5 times of the total issue in the first stage

Sanjen Jalavidhyut Company Limited has raised Rs 4.17 arba from over 1.82 lakh applicants till the last day of its first stage issue, Falgun 30, 2074 which is 5.80 times of the first stage issue. The issue was made for the members of the Employees Provident Fund. Sanjen Jalavidhyut Company Limited is currently issuing a total of 87,60,000 units ordinary shares. In the first phase, the issue was open for 71,17,500 units shares from Falgun 11, 2074 to Falgun 30, 2074 for staffs having membership of Employees Provident Fund. In the second stage, Sanjen will collect applications from staffs of promoter companies (i.e. staffs of Nepal Electricity Authority, Chilime Hydropower Company, and staffs of local bodies of Rasuwa district) and staffs of lending institution i.e. Employees Provident Fund from Chaitra 5 – Chaitra 13, 2074. Employees of promoter companies can apply from 50 to 300 units of shares. 12,77,500 units shares have been allocated for employees of promoter companies. Likewise, employees of EPF can apply from 50 to 1,000 units shares of Sanjen Jalavidhyut Company. 3,65,000 units shares have been allocated for EPF employees. 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.