Rasuwagadhi and Sanjen to allot IPO Today

Apr 01, 2018 Merolagani

The issue managers of Rasuwagadhi Hydropower and Sanjen Hydropower are allotting their initial public offering (IPO) today. According to issue managers, as the IPO is oversubscribed allotment will be as per lottery basis. The allotment will take place today at 2 pm.

Siddhartha Capital is the issue manager of Rasuwagadhi and Citizens Investment Trust is the issue manager of Sanjen.

The companies issued IPO to depositors of Employees Provident Fund (EPF) from February 23 to March 14 and to employees of promoter companies (Nepal Electricity Authority, Chilime Hydropower Company and employees of local bodies of Rasuwa District) and employees of lending institution (Employees Provident Fund) from March 19 to 27.

Rasuwagadhi Hydropower

In the first stage, Rasuwagadhi Hydropower issued 13,342,095 units of IPO to depositors of EPF. The issue was oversubscribed to 67.5 million units of shares worth Rs 6.75 billion from more than 200,000 applicants.

Similarly, in the second stage, the hydropower issued 2,394,735 to employees of promoter companies and 684,210 to employees of EPF. A total of 8,986 Employees of promoter companies have applied for 4,393,730 units of shares worth Rs 439.3 million while 585 employees of EPF have applied for 738,850 units of shares worth Rs 73.8 million.

Sanjen Hydropower

Sanjen Hydropower issued 7,117,500 units of shares to depositors of EPF in the first phase. A total of 183,000 applicants applied for 41.7 million units worth Rs 4.17 billion in the issue.

Similarly, Sanjen issued 1,277,500 units of shares to employees of promoter companies and 365,000 units to employees of EPF from March 19-27. The issue was applied by 8,977 applicants from promoter companies for 2,642,410 units worth Rs 264.2 million while 587 EPF employees applied for 399,460 units of shares worth Rs 39.9 million.

As per the applications received, depositors of EPF will be provided a minimum of 30 and a maximum of 40 shares. Similarly, employees of promoter companies will be provided an average of 150 units of shares.

Likewise, employees of EPF will be able to get maximum of 40 units of shares through lottery.

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