The allotment for Sanvi Energy Limited’s IPO was finalized today at the facilities of the issue manager, Nepal SBI Merchant Banking Limited, located in Central Plaza, Kathmandu.
Sanvi Energy Limited had made available 2,415,300 shares valued at Rs 24.15 crores as part of its Initial Public Offering (IPO) to the general public (from 9th Jestha to 13th Jestha, 2082).
From the total of 2,910,000 shares, 145,500 (which is 5% of 2,910,000) have been allocated for mutual funds, while 58,200 (or 2% of 2,910,000) shares have been reserved for the company’s staff. The remaining 2,415,300 shares were offered to the public at a nominal value of Rs. 100.
The offering attracted a total of 2,030,157 applications for 23,795,640 shares, leading to an oversubscription of over 9.85 times. Additionally, 3,674 applications were declined.
According to the allotment module, a total of 241,530 applicants received 10 shares each through a lottery system.
The IPO results can be viewed via CDSC IPO Result, MeroShare, and Nepal SBI Merchant Banking.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB+ (Is)’ for Sanvi Energy Limited (SEL). Companies with this rating are deemed to have a moderate risk of default in fulfilling their financial commitments on time in Nepal.
Sanvi Energy Limited (SEL) is a public limited company that was originally founded in 2011 as a private business and transformed into a public limited entity in July 2020. The company is backed by individuals with extensive experience in the hydropower industry and other sectors. SEL currently operates two hydropower projects, one of which is active and the other is under development, both following the BOOT (Build, Own, Operate, Transfer) model.
