Sanjen Hydropower to issue IPO worth Rs. 54.75 crore
April 9, 2019 | Investopaper
Sanjen Jalavidyut Company is issuing an IPO worth Rs. 54.75 crore to the general public from Baisakh 6, 2076. The IPO issue will open till Baisakh 10,2076 and in case the IPO is not subscribed, the date will be extended up to Jestha 5, 2076.
Related: How to apply IPO/FPO/Right Share through Mero Share?
It is also one of the 11 hydro projects under the government scheme “Janata ko Jalavidyut.” The IPO subscription price is Rs. 100 and the applications can be placed for minimum of 50 units to maximum 2,000 units.
Out of the total 54, 75,000 issued units 4 percent have been allotted for the employees of the company and 5 percent has been set aside for the mutual funds. The remaining units will be available to the general public.
Sanjen Jalavidhyut Company Limited is a subsidiary of Chilime Hydro Power Limited. It has been constructing lower and upper Sanjen with both totaling the capacity of 57 MW. The estimated cost of the project is 8.65 arba.
Citizens Investment Trust has been appointed as the issue manager for the IPO issue. Likewise, Sunrise Capital Limited and NMB Capital Limited has been appointed as the co-issue manager.
ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4+ (Pronounced as ICRA NP IPO Grade Four Plus) to the IPO of the company indicating below average fundamentals.
