Two subsidiary companies of Chilime Hydropower to issue IPO of Rs 2.51 arba from Falgun 11
Sun, Feb 4, 2018 12:29 PM on Latest, IPO/FPO News, Featured,
Sanjen Hydropower Company Limited (Sanjen) and Rasuwagadhi Hydropower Company Limited (RHCL) will be issuing IPO from Falgun 11, 2074. 2.51 crore unit of total shares of both the companies will be issued on the same date (87.6 lakh unit shares of Sanjen Hydropower and 1.63 crore unit shares of Rasuwagadhi Hydropower)
The subsidiary projects of Chilime Hydropower, Sanjen Hydropower and Rasuwagadhi Hydropower had decided to issue IPO in Magh, 2074. But, after the directive issued by SEBON for the compulsory application of C-ASBA for share issuance, both the companies had decided to postpone the date.
Both the companies will be floating their shares to employees of promoter shareholding companies, companies having membership of Employee provident Fund (EPF) and employees of lending institutions.
The issue manager for Sanjen Hydropower Company Limited is Citizen Investment Trust. And, for the IPO issuance of Rasuwagadhi Hydropower the issue managers are Siddhartha Capital Limited, NIBL Capital Market Limited, Global IME Capital Ltd and Sunrise Capital.
Sanjen Jalavidhyut Company is a subsidiary of Chilime Hydropower Company Limited (CHCL) and was incorporated in February 2010 as a public limited company.
Sanjen has planned to develop two new projects–Sanjen Hydroelectric Project having capacity of 42.5 MW and Sanjen (Upper) Hydroelectric Project (SUHEP) of capacity 14.8 MW in Rasuwa district.
Sanjen Hydropower will be issuing 24% of its issued capital i.e. Rs 87.60 crore in the first phase of issuance. The total capital of the company is Rs 3.65 arba out of which 15% will be issued to the general public of Rs 54.75 crore and 10% to the local people of the project affected areas of Rs 36.5 crore. The share structure of Sanjen Hydropower is as given below:
After the IPO, contributors of EPF will have 19.50% shareholding, employees of EPF will have 1% shareholding and employees of promoter companies will have 3.50% shareholding in the hydropower company. CHCL and Nepal Electricity Authority are major promoters of the company will have 38% and 10% shares respectively. While, Rasuwa DDC and 18 VDC will have 3% of the total shares.
Rasuwagadhi Hydropower Company Limited is also a subsidiary of Chilime Hydropower Company Limited with 33% shareholding and was incorporated in August 2011 as a public limited company. It has planned to develop Rasuwagadhi Hydroelectric Project having capacity of 111MW in Rasuwa district.
Nepal Electricity Authority is another major promoter with 18% shareholding, After this IPO, employees of EPF will have 1% shareholding, contributors of EPF will have 19.50% shareholding and employees of promoter companies will have 3.50% shareholding in the company. The company has set aside 10% for project-affected local people and 15% for general public.
Rasuwagadhi has also been issuing 24% of its issued capital in the first phase. It has total capital of Rs 10.46 arba out of which 15% will be issued to the general public of Rs 1.57 arba and 10% to the people of project affected areas of Rs 1.04 arba. The detail share structure of Rasuwagadhi Hydropower is as given below:
CHCL will hold 33% of the shares and Nepal Electricity authority will hold 18% of the shares as promoters.
More information about CHCL
IPO approval of Sanjen Hydropower
IPO approval of Rasuwagadhi Hydropower
After the IPO, contributors of EPF will have 19.50% shareholding, employees of EPF will have 1% shareholding and employees of promoter companies will have 3.50% shareholding in the hydropower company. CHCL and Nepal Electricity Authority are major promoters of the company will have 38% and 10% shares respectively. While, Rasuwa DDC and 18 VDC will have 3% of the total shares.
Rasuwagadhi Hydropower Company Limited is also a subsidiary of Chilime Hydropower Company Limited with 33% shareholding and was incorporated in August 2011 as a public limited company. It has planned to develop Rasuwagadhi Hydroelectric Project having capacity of 111MW in Rasuwa district.
Nepal Electricity Authority is another major promoter with 18% shareholding, After this IPO, employees of EPF will have 1% shareholding, contributors of EPF will have 19.50% shareholding and employees of promoter companies will have 3.50% shareholding in the company. The company has set aside 10% for project-affected local people and 15% for general public.
Rasuwagadhi has also been issuing 24% of its issued capital in the first phase. It has total capital of Rs 10.46 arba out of which 15% will be issued to the general public of Rs 1.57 arba and 10% to the people of project affected areas of Rs 1.04 arba. The detail share structure of Rasuwagadhi Hydropower is as given below:
CHCL will hold 33% of the shares and Nepal Electricity authority will hold 18% of the shares as promoters.
More information about CHCL
IPO approval of Sanjen Hydropower
IPO approval of Rasuwagadhi Hydropower
