Securities Board of Nepal (SEBON) has affirmed the demand to issue Initial Public Offering (IPO) of Sanjen Jalavidhyut Company Limited.
It will glide 87.60 lakh units IPO shares worth Rs 87.60 crore to workers of promoter shareholding organizations, representatives having participation of Employee Provident Fund (EPF) and representatives of loaning establishments.
Native Investment Trust Limited has been selected as the issue director for the IPO.
ICRA Nepal has doled out “[ICRANP] IPO Grade 4+” to the proposed Initial Public Offering (IPO) of Sanjen Jalavidhyut Company Limited, demonstrating beneath normal basics.
Sanjen Jalavidhyut Company is a backup of Chilime Hydropower Company Limited (CHCL) and was fused in February 2010 as an open restricted organization.
Sanjen has wanted to create two new projects– Sanjen Hydroelectric Project having limit of 42.5 MW and Sanjen (Upper) Hydroelectric Project (SUHEP) of limit 14.8 MW in Rasuwa region.
After the IPO, givers of EPF will have 19.50% shareholding, workers of EPF will have 1% shareholding and representatives of promoter organizations will have 3.50% shareholding in the hydropower organization. CHCL and Nepal Electricity Authority are significant promoters of the organization.