Sagarmatha Jalbidhyut Company is issuing its 35,81,760 Units of IPO for General Public on the 8th of Chaitra,
Sagarmatha Jalbidhyut Company is Going to issue its 35, 81, 760 Units of IPO Shares to the General Public from the 8th of Chaitra. This Company has already published the offer letter for issuing an Initial Public Offering (IPO) to the General Public.
From the eighth Chaitra of 2079, the company will issue 35,81,760 unit shares with a face value of Rs 100. Through this IPO, the business hopes to raise Rs 35.81 crore.
This issue has an early closing date of 12 Chaitra, and if it is not completely subscribed, it can be delayed until 22 Chaitra, 2079.
10%, or 436,800 units, of the total 43,68,000 units have already been issued and allocated to Nepalese people who are working overseas. 5%, or 218,400 units, of the total offered shares have put aside for mutual funds.
And 3%, or 131,040 units, have been set aside for the company’s workers. The general public will receive the 35,81,760 units that are left. The paid-up capital of the firm would be Rs. 1.12 Arba following the IPO.
Short Details About the Sagarmatha Jalbidhyut Company
| Sagarmatha Jalbidhyut Company Limited | |
| Face Value | Rs. 100 |
| Total Number of Share | 43,68,000 Units of Shares |
| For Nepalese Employees working abroad | 4,36,800 Units of Shares |
| For Mutual Fund | 2,18,400 Units of Shares |
| For Company’s Employee | 1,31,040 Units of Shares |
| For General Public | 35,81,760 Units of Shares |
| Opening Date | 8th of Chaitra 2079 |
| Closing Date | 12th of Chaitra 2079 |
| If not Fully subscribed | 22 of Chaitra 2079. |
The corporation previously granted 436,800 unit shares to Nepali nationals working abroad and 11,20,000 unit shares worth Rs. 11.22 crores to the Illam District villagers affected by the project. In all, the promoter owners own 51% of the company’s shares.
As the issue manager for the IPO issuance, Prabhu Capital Ltd has been chosen. Applications can be submitted for as little as 10 units or as many as 10,000 units.
Care Rating
ICRA Nepal has given Sagarmatha Jalabidhyut Company Limited an issuer rating of [ICRANP-IR] BBB- (pronounced ICRA NP issuer rating triple B minus). The prompt servicing of financial obligations is seen to be somewhat secure for issuers with this grade.
About the Company
In accordance with the government of Nepal’s Company Act 2053, Sagarmatha Jalbidhyut Company Limited was founded in November 2015 in Kathmandu.
The corporation was founded largely to reduce the then-rising energy demand and end the practice of load shedding brought on by the mismatch between the supply and demand for electricity.
The firm has a gross installed generating capacity of more than 18 MW when combined with its subsidiaries and jointly managed companies.
In partnership with NEA, the firm is anticipated to meet the electricity requirements of over 1000 families.
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