Sanima Middle Tamor Hydropower Closing the IPO Issue For Project Affected Locals From Today

Sanima Middle Tamor Hydropower Limited is closing the issue of its IPO to the project-affected locals from today i.e. 19th Magh, 2079. The issue had opened on 4th Magh, 2079. The company had previously announced in a notice that the IPO issue deadline would be extended till Falgun 04, however, in the case of the subscription will close as it gets subscribed. The offering is currently oversubscribed, so the company will close its issue from today through the end of the banking hours.

The issued capital of the company is Rs. 3.33 Arba of which 10% i.e. 33,32,500 unit shares worth Rs. 10 crores have been allocated to project-affected locals of Taplejung District. Meanwhile, 15% of the company's issued capital i.e. 49,98,750 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 499,875 units shares have been allocated for Nepalese citizens working abroad, the issue of which closed on Magh 18.

The minimum application quantity to be applied is 10 units while the maximum quantity is 20,000 units. Sanima Capital Limited is appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the rating of ‘CARE-NP BB’ to the long-term bank facilities of Sanima Middle Tamor Hydropower Limited.

Sanima Middle Tamor Hydropower Limited was established and incorporated in the year 2016 as a Special Purpose Vehicle (SPV) Company with its Office located at Dhumbarahi, Kathmandu Nepal for the implementation and operation of the Middle Tamor Hydropower Project. It is promoted by individual promoters from different backgrounds, institutional investors majorly related to the Sanima Hydro group, Non-resident Nepalis, and other institutions which include Banks, Insurance, and investment companies. SMTHL is one of the sister organizations of Sanima Hydro Group which was initiated with the establishment of Sanima Hydropower Limited in 1999 B.S. Sanima Hydropower Ltd. was established as a public company with the primary objective of harnessing the vast potential of Nepal’s hydropower sector. The company developed and commissioned Sunkoshi Small Hydropower Plant (2.6 MW) in the year 2005. It is setting up a 73 MW run-of-river, Middle Tamor Hydropower Project in the Taplejung district of Nepal. The project is constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

Closing Notice