Upper Trishuli 3B Hydro Project Sells Remaining Shares

Upper Trishuli 3B Hydro Project Sells Remaining Shares

Oct. 25, 2022, 8:39 a.m.

Nearly 78,000 shareholders have submitted applications for the remaining amount of shares issued to the general public by Trishuli Hydropower Co Ltd.The company had started accepting applications from September 20 for the remaining shares.

As per the company, of the 154,559 ordinary shareholders who had acquired shares of the company at Rs 10 per unit, nearly 78,000 have paid the remaining Rs 90 per share. With this, Rs 160 million has been collected.Now, the company is seeking to collect Rs 330.34 million at the rate of Rs 90 per share.The Managing Director of the company, Mohan Prasad Gautam, urged the shareholders to apply before the deadline, that is, November 3 The company is constructing the 37 MW Upper Trishuli 3B hydropower project in Rasuwa and Nuwakot.Nepal Electricity Authority and Nepal Telecom each have 30 per cent founders shares in the company.

In the company, there will be five per cent shares of the rural municipalities and municipalities of Rasuwa and Nuwakot, five per cent of the local financial institutions of Rasuwa and Nuwakot, 10 per cent of the residents of Rasuwa and Nuwakot, 15 per cent of the general public and five per cent of the employees of the authority and telecom.

The total estimated cost of the project is Rs 7.445 billion, excluding interest during the construction period. Of the estimated construction cost, the company is financing the project with 30 per cent equity (Rs 2.47 billion ) and 70 per cent debt (Rs 5.76 billion ).

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