Last Day to Deposit the Remaining Payment of Trishuli Jal Vidhyut Company's IPO

Thu, Nov 3, 2022 11:32 AM on Latest, IPO/FPO News,

Trishuli Jal Vidhyut Company Limited (TJVCL) has published the notice regarding last day to deposit the remaining payment of IPO today (17th Kartik, 2079)

The company had been collecting the remaining payment of 37.05 lakh unit shares offered to the general public in 2075 (along with reservations for the company's staff) from Ashwin 04 and the deadline was extended till today.

At that time, a minimum of 10 percent of each share's face value of 100 rupees was only collected, or 10 rupees. The remaining Rs 90 per share must now be paid by ordinary shareholders who earlier paid Rs 10 per share. This means that the remaining 90 rupees per share, or 90% of the nominal value, will be collected from the company's ordinary shareholders.

15% of the company's shares, worth Rs. 2.47 Arba, were previously issued to the general public. Out of total of 3,705,000 units; 3%, or 111,150 units, were set aside for staff while the remaining 3,593,850 units were distributed to the general public.

The total marked price per share demanded is Rs. 90. Out of which, shareholders will receive interest of Rs. 3 per share. As a result, the ordinary shareholders are currently required to pay Rs. 87 per share.

Shareholders may also submit an application through the branch offices, "Mero Share" software, and partner banks and financial institutions till the end of banking hours today. Not to mention, Global IME Capital oversees the sale and issuance of its securities.

The People's Hydropower Program (Operation and Management) Procedures, 2075 state that the remaining payment for shares should only be made after the project has reached 50% physical completion and all shareholders have been paid the agreed-upon amount, both of which, according to the company, have already been done.