Last Day to Deposit Remaining Payment of IPO Shares of Trishuli Jal Vidhyut Company; Collection Closing Today

Trishuli Jal Vidhyut Company Limited (TJVCL) will be closing the collection of the remaining sum for the shares offered to the general public from today 17th Falgun. The collection began on 18th Mangsir, 2079.

The company had issued 3,705,000 units of IPO shares from issued capital of Rs. 2.47 Arba from 7th to 11th Chaitra, 2075 with a par value of Rs. 100 and the initial call amount of Rs. 10.  Of the total 3,705,000 units; 3% of shares i.e. 111,150 unit shares were reserved for employees and the remaining 3,593,850 unit shares were issued to the general public. Investors could acquire shares by paying only 10% i.e. Rs. 10 of the share value and the remaining 90% i.e. Rs. 90 was supposed to be paid when the project is 75% complete.

TJVCL first published a notice to collect the remaining Rs. 90 for the shares offered to the general public from 4th Ashwin to 17th Kartik, 2079. Though the total market price per share demanded was Rs. 90, the shareholders would receive an interest of Rs. 3 per share. As a result, the ordinary shareholders were required to pay Rs. 87 per share.

Since 46,179 shareholders failed to deposit Rs. 87 within the said period, they have to deposit the same amount with 3 months interest i.e. 8%, totaling Rs. 88.74 per share till today.

Shareholders can pay the due amount through "Mero Share" software or visit the head office of the issue manager i.e. Global IME Capital located at Naxal, Kathmandu till the end of banking hours today.

Trishuli Jal Vidhyut Company Limited is a public limited company established on 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 and Nepal Doorsanchar Company Limited. The company is planning to develop the Upper Trishuli 3B Hydropower Project (UT3BHEP) with an installed capacity of 37 MW located in Nuwakot and Rashuwa District. The total estimated cost of the project is Rs. 7.44 Arba excluding interest during the construction period.

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