SEBON Adds IPO Proposals of Siuri Nyadi Power Limited To Its Pipeline

The IPO proposal of Siuri Nyadi Power Limited has also been added to SEBON's pipeline.

The company applied to the capital market regulator for approval to issue 3,03,60,784 shares, aiming to raise Rs. 3.03 Arba through this offering.

NMB Capital Limited has been appointed the issue manager for the public offering.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) assigned an issuer rating of IRN BB (Double B) to reflect moderate default risk. It upgraded the long-term rating to IRN BB (Double B) for NPR 5,239.00 Mn bank facilities and reaffirmed IRN A4 (A Four) for NPR 225.00 Mn short-term facilities, removing both ratings from the "Issuer Not Cooperating" category.

Siuri Nyadi Power Limited (SNPL), established as a private limited company on August 22, 2014, and converted to a public limited company on July 19, 2017, develops and operates a 40.27 MW run-of-river hydropower project in Bahundada, Lamjung District. With a catchment area of 93.87 sq. km and a design discharge of 6.80 m³/s, the project is primarily promoted by M/s Ngadi Group Power Ltd.