Trishuli Jal Vidhyut Company Ltd. (TJVCL) has successfully concluded its initial public offering (IPO) on Thursday morning at 1:00 PM today, 28th March 2019 (14th Chaitra 2075) in the presence of honorable minister Mr. Barsha Man Pun in the meeting hall of his Ministry of Energy, Water Resources and Immigration, Singha Durbar, Kathmandu. The company had floated 3,705,000 unit ordinary shares worth Rs 370.5 million (Rs 37.05 crores) at a face value of Rs 100 each with an initial call amount Rs. 10 to the general public, for four working days, starting from Thursday 21st March 2019 (7th Chaitra 2075) till its early closing date Monday 25th March 2019 (11th Chaitra 2075) just this week.
As per its issue manager Global IME Capital Ltd., the issue had received 154,624 applications for 64,552,900 unit shares worth Rs 645.529 million (Rs 64.55 crores) with 18.61 times oversubscription, of which 67 applications were invalid due to errors and of the remaining 154,559 valid applications, all were allotted a minimum 20 unit shares each while only 50,267 lucky ones were allotted an additional 10 unit shares each by lottery on pro rata basis, thus 50,267 applicants allotted with a net maximum 30 unit shares each and 104,292 applicants a net minimum 20 unit shares each.
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