IPO Proposal of Sanvi Energy Limited Approved by SEBON

The Securities Exchange Board of Nepal (SEBON) has approved the IPO issue proposal of Sanvi Energy Limited.

The company will now issue 37,90,000 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 37.90 Crore.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB+ (Is)’ for Sanvi Energy Limited (SEL). Issuers with this rating are considered to have a moderate risk of default in meeting their financial obligations on time in Nepal.

Sanvi Energy Limited (SEL) is a public limited company, originally established in 2011 as a private entity and converted to a public limited company in July 2020. The company is promoted by individuals with extensive experience in hydropower and other sectors. SEL currently has two hydropower projects, one operational and the other under construction, both developed under the BOOT (Build, Own, Operate, Transfer) model.