Rs. 87 Per Share Should be Paid by the Ordinary Shareholders of the Trishuli Jal Vidhyut Company as the Remaining Payment of IPO Shares

Tue, Sep 13, 2022 12:30 PM on Latest, IPO/FPO News, Stock Market,

From the upcoming Ashoj 4, 2079, Trishuli Jal Vidhyut Company Limited (TJVCL) will begin collecting the remaining sum for the shares offered to the general public. The deadline for payment has been extended till 17 Kartik 2079. Previously, the company issued 37.05 lakh shares to the general public in 2075 (along with reservations for the company's staff).

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.

Previously, issued capital of the company which was Rs.2.47 Arba, company issued 15% shares to general public. Of the total 3,705,000 units; 3% shares i.e. 111,150 unit shares is reserved for employees and remaining 3,593,850 unit shares is issued 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. 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.

About the company:

Trishuli Jal Vidhyut Company Limited (TJVCL) is a public limited company established in 11th May 2011 to harness the hydropower potential of the country at a reasonable rate with the full utilization of the available national water resources. The company is jointly formed by Nepal Electricity Authority (NEA) and Nepal Doorsanchar Company Limited (NDCL).

The company is planning to develop Upper Trishuli 3B Hydropower Project (UT3BHEP) with installed capacity of 37 MW located in Nuwakot and Rashuwa District. The total estimated cost of the project is Rs. 7.44 Arba excluding interest during the construction period.

Each of the promoter shares in the project owned by the Authority of Nepal Telecom is worth 30%. The company will hold 5% of the shares in Rasuwa and Nuwakot's rural and municipal governments, 5% of the local financial institutions there, 10% of the resident, 15% of the general public, and 5% of the telecom authorities and staff.

The project's construction was continued with the intention of being finished in Chaitra 2077. Due to the COVID-19, the Chinese workers who traveled home for the New Year were unable to return, and supplies for building projects could not be imported from China due to the long-term closure of the Rasuwagadhi border crossing.

As of late, the project's overall construction progress is at 65%, and Asoj 2080 is the projected completion date. In the winter and the rainy seasons, respectively, the project will produce 134,880,000 and 157,771,000 units of power. The currently in use Samunda-Tar-Trishuli 3V hub transmission line will carry the generated power to the national grid.