Rasuwagadhi and Sanjen HEP's IPO getting nearer to full subscription; Both issues crosses 50% collection

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 from today (Baisakh 6, 2076). The early closing date of this IPO issue is on 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.

As per the issue manager, a total of 83,292 applicants have applied for 44,37,000 units of shares till today. More than 80% of the issue has been subscribed in 2 days of the IPO issue. 

Applications can be place for minimum 10 units and maximum 2,000 units. The par value of share is Rs 100.

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.

Similarly, 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 from Baisakh 6, 2076. 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.

As per the issue manager, a total of 90,404 applicants have applied for 56,75,640 units of shares till today. More than 55% of the issue has been subscribed in 2 days of the IPO issue. 

Applications can be place for minimum 10 units and maximum 5,000 units. The par value of share is Rs 100.

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 has been appointed as the co-issue manager.