Ongoing IPO of Sanjen Jalavidhyut Company raises over Rs 170 crores from more than 70K applicants; oversubscribed by more than 2 times

Sanjen Jalavidhyut Company Limited has raised over Rs 170 crores from over 70 thousand applicants in its ongoing IPO issue to members of 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 is open for 71,17,500 units shares from Falgun 11, 2074 to Falgun 30, 2074 for staffs having membership of Employees Provident Fund. They can apply anywhere from 50 units to 300 units shares. Staffs having membership of EPF till Mangsir 22, 2074 and new members that have registered in EPF till Mangsir 26, 2074 can apply under this issue. 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.