Trishuli Jal Vidhyut first to float IPO under the "Citizens Hydropower Project" scheme; just need to invest 10% until 75% project is completed

Fri, Mar 15, 2019 8:20 AM on IPO/FPO News, Latest, Stock Market,
Trishuli J...

Trishuli Jal Vidhyut Company Limited is issuing 37,05,000 units IPO shares worth Rs 37.05 crore to the general public from  Chaitra 7, 2075. The early closing date of this IPO issue is Chaitra 11, 2075 and if the issue is not subscribed till Chaitra 11 then this issue can be extended upto Baisakh 6, 2076.

The par value of shares is Rs 100 and initial call amount is Rs 10. Applications can be place for minimum 100 units and maximum 10,000 units.

Trishuli Jal Vidhyut Company Limited is the first company to issue Initial Public Offering (IPO) under the "Citizens' Hydropower Project" scheme introduced by the government lately.

This scheme was introduced by the government to involve citizens' investment in hydro sector with an ambition to make all Nepalis shareholder of Hydropower.

Under this provision, you can acquire shares by paying only 10% of the share value and the remaining 90% will be payable when the project is 75% complete.

Global IME Capital is the issue manager. Application can be placed from the financial institutions providing C-ASBA facility or through Meroshare.

The issued capital of the company is Rs 2.47 arba out of which company is issuing 15% shares to general public. Of the total 37,05,000 units; 3% shares i.e 1,11,150 unit shares is reserved for employees and remaining 35,93,850 unit shares is issued to the general public.

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. UT3BHEP is a run-off-river (ROR) type cascade project of Upper Trishuli 3A HEP (60 MW) which lies in the Trishuli River.

The cost for the construction of the 37MW project is estimated to be Rs 8.22 arba. Out of which the consortium (NABIL, HIDCL and Nepal Bank) will provide 70% i.e. Rs 5.76 arba for the project.

Click Here for Offer Letter of IPO:

Also Read:

Hydropower companies under "Citizens' Hydropower Project" to issue IPO without credit rating; SEBON issues formal notice

37.05 lakh unit shares of Trishuli Jal Vidhyut added in SEBON’s IPO pipeline; company jointly promoted by NEA and NTC

Nabil Bank to lead the consortium loan for Upper Trishuli 3B; 3 institutions to provide Rs 5.76 arba for the project