Massive IPO upcoming for general public! SEBON adds 1.02 crore units of Rasuwagadhi Hydropower’s IPO and 54.75 lakh units of Sanjen Jalavidhyut’s IPO in pipeline

Fri, Dec 21, 2018 1:07 PM on Stock Market, Latest,

Securities Board of Nepal (SEBON) has added the Initial Public Offering of Rasuwagadhi Hydropower Company Limited and Sanjen Jalavidhyut Company Limited in its IPO pipeline.

As planned, the added shares for both the companies are for issuance to the general public. SEBON has added 1,02,63,150 units of Rasuwagadhi Hydropower and 54,75,000 units of Sanjen Jalavidhyut Company in its IPO pipeline.

Siddhartha Capital Limited has been appointed as the issue manager for Rasuwagadhi’s IPO issuance and Citizen Investment Trust has been appointed as the issue manager for Sanjen’s IPO issuance.

The issue of the companies was open from Falgun 11 to Falgun 30 for the employees of Employee Provident Fund and from Chaitra 5 to Chaitra 13 for the employees of the promoter institutions as well as employees of the local offices.

The second stage IPO issue of Rasuwagadhi had been able to gather Rs 7,38,85,000 from 585 employees of the Employees Provident Fund. The issue was open for Rs 6,84,29,000. It was oversubscribed by 1.07 times.

Similarly, from the employees of promoter institution, the hydropower company has collected Rs 43,93,73,000 from 8,986 employees. The issue was open for Rs 23,94,73,500. It was oversubscribed by about 1.83 times.

In the first stage issue of the company, Rs 6.75 arba had been collected from more than 2 lakh applicants.

It has total capital of Rs 10.46 arba out of which IPO worth Rs 1.02 arba (15%) is being floated for the general public and 10% to the people of project affected areas of Rs 1.04 arba

Likewise, Sanjen Hydropower Company has collected Rs 3,99,46,000 from 547 employees of the Employee Provident Fund. The issue was open for 3.65 lakh unit shares. From the employees of promoter institutions, the company gathered Rs 26,42,49,000 from 8,977 applicants.

In the first stage issue the company had amassed Rs 4.17 arba from 1.83 lakh applicants.

The total capital of the company is Rs 3.65 arba out of which 15% will be issued to the general public of Rs 54.75 crore and 10% to the local people of the project affected areas of Rs 36.5 crore.