As per Global IME Capital, issue manager of the company, the IPO will be allotted in the presence of Barsha Man Pun, Minister of Energy, Water Resource and Irrigation at the premises of the Ministry in Singhadurbar.
Trishuli Hydropower Company issued 3,705,000 units of shares as IPO from March 21-25. Out of the total offering, the company allocated 3 percent i.e. 111,150 units of shares to employees and issued 3,593,850 units of shares to the public.
The hydropower operating under Peoples Hydropower Program drew tremendous interest and got oversubscribed by 18.62 times. A total of 156,711 applicants sought 66,909,920 units of shares during the issue.
The project is being developed under the government's People's Hydropower Programme which aims to generate 3,500 mega watt of electricity by investing Rs 698.8 billion in 19 hydropower projects. The Upper Trishuli III B in Nuwakot, which is being constructed by the Nepal Electricity Authority, is one of them.
Main investment partners of the Project are Nepal Electricity Authority and Nepal Telecom, while Trishuli Hydropower Company is the promoter.
Construction of this 37 megawatts project has started with the completion target of the Falgun 17, 2078 BS, said the company's managing director Mohan Prasad Gautam.
