Rasuwagadhi and Sanjen Hydropower Starts Issuing IPO from April 19

Apr 19, 2019 Merolagani

Rasugadhi Hydropower and Sanjen Hydropower Company have started issuing  IPO from April 19. Recently, both companies were taken under the ambitious government project 'Peoples Hydropower Program'.

Rasuwagadhi Hydropower is issuing 15 percent shares of its issued capital of Rs 6.84 billion. The company is issuing 10,263,150 units of shares worth Rs 1.02 billion.

Out of the total offered shares, the company has allotted 4 percent i.e. 410,526 units to employees and 513,157 units to mutual fund. The general public can apply for the remaining 9,339,467 units.

Similarly, Sanjen Hydropower is issuing 15 percent shares of its issue d capital of Rs 3.95 billion. The company is issuing 5,475,000 units of shares worth Rs 547.5 million.

Out of the total offered shares, the company has allotted 4 percent i.e. 219,000 units to employees and 273,750 units to mutual fund. The public can apply for the remaining 4,982,250 units of shares.

The interested investors can apply for a minimum of 50 and maximum of 5,000 units of shares in both IPOs. They can apply for the shares from all C-ASBA approved BFIs and through meroshare software. Both issues will close early on April 23 and lately on May 19.

Although both projects have been included under PM's Peoples' Hydropower Project, investors are required to pay the full amount unlike the previous hydropower project '37MW Trishuli III B'.

"The construction of infrastructure of both hydro projects have already been completed above 50 percent, thus, the investors are required to pay the full amount," said Sandip Karki, official at Siddhartha Capital, issue manager of Rasuwagadhi Hydropower.

Rasuwagadhi Hydropower has appointed Siddhartha Capital as its issue manager and NIBL Ace Capital, Global IME and Sunrise Capital as its co-issue manager. Similarly, Sanjen Hydropower has appointed Citizen Investment Trust as issue manager and Sunrise and NMB Capital as co-issue manager.


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