Sanvi Energy Limited Issuing IPO Shares to Locals of Ilam District And Nepalese Employed Abroad From Baisakh 5
Wed, Apr 9, 2025 11:05 AM on IPO/FPO News, Latest,
Sanvi Energy Limited has published an offer letter to issue an Initial Public Offering (IPO) to the project-affected locals of Ilam District and Nepalese citizens working abroad.
The IPO issue for the locals and Nepalese citizens working abroad will open from the 5th Baisakh to the 19th Baisakh, 2082. Note that for the locals of Ilam District, if the issue is not subscribed by the early closing date, the issue can be extended till Jestha 02. However, the issue will not be extended from the early closing date for Nepalese citizens working abroad.
The issued capital of the company is Rs. 88 Crore of which 10% i.e. 8,80,000 unit shares worth Rs. 8.80 Crores will allocated to project-affected locals of Ilam District.
Meanwhile, 33.07% of the company's issued capital i.e. 29,10,000 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 2,91,000 units shares have been allocated for Nepalese citizens working abroad, the issue of which will open on the date mentioned above.
For the project-affected locals, the minimum application quantity to be applied is 10 units while the maximum quantity is 20,000 units whereas for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units and the maximum quantity is 20,000 units.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager.
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.
