Sanjen Jalavidhyut Company Limited To Sell 36,50,000 Shares to Locals | Receives Approval From SEBON

June 24, 2022 | Investopaper

Sanjen Jalavidhyut Co. Limited is going to sell the shares to the locals of the project-affected areas (IPO). For this purpose, Securities Board of Nepal (SEBON) has granted the permission the company. Only after the approval from the board, the company can sell the shares to the public.

The company had submitted the application to the board on Mangsir 20, 2078 BS.

The company is planning to sell 36,50,000 shares in the IPO at a face value of Rs 100. Hence, the public issue amounts to Rs 36.50 crores.

Citizen Investment Trust is the issue and sales manager for the IPO. An agreement has already been reached between the hydropower company and CIT in this regard.

Sanjen Jalavidhyut Co. Limited is currently developing two hydroelectric projects- Sanjen (Upper) Hydroelectric Project (14.8 MW) and Sanjen Hydroelectric Project (42.5 MW).

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