Subsidiary companies of Chilime Hydropower included in “Janata Ko Jalbidhyut” program; IPO predicted to open from first week of Baisakh

Sanjen Hydropower and Rasuwagadhi Hydropower Company Limited are planning to issue IPO to general public. After government included both of these companies within “Janatako Jalbidhyut” program, these companies planned to issue IPO from 2nd Baisakh. The ministry and team from Sanjen discussed on the plans of IPO issuance and thus, included the hydro powers within “Janata ko Jalbidhyut”.

Prior to this, government had selected eleven hydropowerplans within “Janata Ko Jalbidhyut” Among these, Trishuli Hydropower Company recently issued its shares at Rs 10. However, the newly added hydro powers will be issuing shares at Rs 100 because both of the projects have already completed more than 50%of the work.

Sanjen Hydropower will be issuing 54 lakhs 75 thousand units shares worth Rs 54 crores 75 lakhs at the rate of Rs 100. Rasuwagadhi Hydropower Company will be issuing 1 crore 2 lakhs 63 thousands 150 units IPO worth Rs 1 arba 2 crore 63 lakhs 15 thousand. The ICRA rating of the IPOs are at 4+. The issue manager of Sanjen Hydropower is CIT whereas that of Rasuwagadi is Siddhartha Capital.

Both of these are subsidiary companies of Chilime Hydro power.  Rasuwagadhi has been constructing a hydro power of 111 megawatt in Rasuwa District. Sanjen Hydro power has been constructing 57 megawatt capacity of lower and upper Sanjen with an estimate cost above Rs 7 arba.