Sanjen Jalavidhyut Company Closing Its IPO to Project Affected Locals of Rasuwa District Today

Sanjen Jalavidhyut Company Limited (SJCL) is concluding IPO issue of 36,50,000 units shares for the project-affected locals of Rasuwa Districts (Aama Chhodingmo VDCs) today at the end of banking hours.

The company has been issuing its 36,50,000 unit IPO shares to the project-affected locals of Rasuwa Districts (Aama Chhodingmo VDCs) from 5th Bhadra and was supposed to conclude on 19th Bhadra but the deadline was extended till Ashoj 04, 2079. However, the issue was unsubscribed and the deadline was re-extended till today i.e. 30th Ashwin, 2079. This is 10% of the company's issued capital i.e Rs. 3,65,00,00,000.

Sunrise Capital is appointed as the issue manager for the IPO issuance. Interested investors can apply for a minimum of 10 shares to a maximum of 700 shares.

Sanjen Jalavidhyut Company Limited (SJCL), a company promoted by Chilime Hydropower Company Limited (CHPCL), is a public limited company established in 2010 AD with the objective of harnessing hydropower potential of the county with maximum participation of local people in the projects’ ownership and mobilization of local resources for the successful implementation of various hydroelectric projects. In the context of current annual growth in electricity demand in the country, the Company has planned to develop two hydroelectric projects, namely, Sanjen (Upper) Hydroelectric Project (14.8 MW) and Sanjen Hydroelectric Project (42.5 MW) in cascade, with its own equity and loan from financial institutions of Nepal as the first initiative.

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