All valid applicants of Trishuli Jal Vidhyut IPO allotted 20 units each; lucky 50,267 applicants allotted 30 units each

Global IME Capital Limited, issue manager of Trishuli Jal Vidhyut Company IPO, has concluded the allotment process of the issue.

The issued capital of the company is Rs.2.47 Arba out of which company is issuing 15% shares to general public. Of the total 3,705,000 units; 3% shares i.e. 111,150 unit shares is reserved for employees and remaining 3,593,850 unit shares is issued to the general public. The par value of shares is Rs.100 while the initial call amount was Rs.10. 

As per the allotment module, a total of 154,559 applicants had applied for the issue. All the applicants have been allotted 20 units each. Out of the total applicants, 50,267 applicants have received 10 units extra through lottery totaling to 30 units each.

IPO result will be published soon on Sharesansar.com

The allotment process was done in the presence of Energy, Water Resources and Irrigation Minister honorable Barsha Man Pun. In the event, he mentioned that the citizens' money is now the responsibility of the Ministry and these projects will beak the stereotype that Government work is always slow. He added that similarly the ministry will move towards larger projects and will enable the hydropower sector to prosper which will benefit the investors and the country as a whole.

Trisuli Jal Vidhyut Company Limited is the first company to issue Initial Public Offering (IPO) under the "Citizens' Hydropower Project" scheme introduced by the government lately. This scheme was introduced by the government to involve citizens' investment in hydro sector with an ambition to make all Nepalese shareholder of hydropower companies.

Trisuli Jal Vidhyut Company Limited (TJVCL) is a public limited company established in 11th May 2011 to harness the hydropower potential of the country at a reasonable rate with the full utilization of the available national water resources.

The company is jointly formed by Nepal Electricity Authority (NEA) and Nepal Doorsanchar Company Limited (NDCL). The company is planning to develop Upper Trisuli 3B Hydropower Project (UT3BHEP) with installed capacity of 37 MW located in Nuwakot and Rashuwa District. UT3BHEP is a run-off-river (ROR) type cascade project of Upper Trisuli 3A HEP (60 MW) which lies in the Trisuli River.

The cost for the construction of the 37MW project is estimated to be Rs.8.22 Arba. Out of which the consortium (NABIL, HIDCL and Nepal Bank) will provide 70% i.e. Rs.5.76 Arba for the project.