Sanjen Jalavidhyut Company is selling its IPO under "Janata ko Jalavidhyut" scheme of Government; IPO to be opened from Baisakh 6

Tue, Apr 9, 2019 9:18 AM on IPO/FPO News, Stock Market, Latest,

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 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.

Prior to this, government had selected eleven hydropower projects within “Janata Ko Jalavidhyut” Among these, Trishuli Hydropower Company recently issued its shares at Rs 10. However, the newly added hydro powers Sanjen and Rasuwagadhi will be issuing shares at Rs 100 because both of the projects have already completed more than 50% of the work.

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.

Applications can be place for minimum 50 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.

Sanjen Jalavidhyut Company Limited is a subsidiary of Chilime Hydro Power Limited has been constructing 57 megawatt capacity of lower and upper Sanjen with an estimate cost above Rs 8.65 arba including interest during construction (IDC).

The estimated per megawatt cost of this project is Rs 15 crore and normal payback period of this project is 6.7 years. 

Earlier, the company had issued 24% share of the issued capital for the members of Employees Provident Fund from Falgun 11, 2074 to Falgun 30, 2074 and for the employees of the promoter institutions as well as employees of the local offices, it was open from Chaitra 5, 2074 to Chaitra 13, 2074. The company will issue 10% share i.e. 36,50,000 units in the future to the residents of project affected people. 

Also Read:

Subsidiary companies of Chilime Hydropower included in “Janata Ko Jalbidhyut” program; IPO predicted to open from first week of Baisakh

Sanjen & Rasuwagadhi Hydropower issuing IPO shares to EPF members & staffs of NEA, Chilime & EPF from Falgun 11

IPO Offer Letter