Sanvi Energy Limited has officially launched its Initial Public Offering (IPO) for public participation starting today, Jestha 9, 2081. The firm is releasing 24,15,300 units of common shares at a face value of Rs. 100 per share, culminating in a total public offering of Rs. 24.15 crore. The initial closing date for the IPO is scheduled for Jestha 13, 2081, with a potential extension until Jestha 23, 2081, should there be a shortfall in subscriptions.
This IPO launch ensues after the successful distribution of shares to individuals residing in project-impacted areas as well as Nepali citizens employed abroad. Previously, the company had allotted 8,80,000 units valued at Rs. 8.80 crore to local residents and 2,91,000 units worth Rs. 2.91 crore to Nepali migrant workers holding labor permits. Furthermore, 1,45,500 shares have been earmarked for mutual funds, while 58,200 shares have been designated for employees of the company.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager. Submissions can be made for a minimum of 10 units and a maximum of 20,000 units.
CARE Ratings Nepal Limited (CRNL) has reinstated the issuer rating of ‘CARE-NP BB+ (Is)’ for Sanvi Energy Limited (SEL). Entities with this rating are perceived to have a moderate likelihood of defaulting on timely financial obligations within Nepal.
Sanvi Energy Limited (SEL) is a public limited entity, initially founded in 2011 as a private organization and transitioned to a public limited company in July 2020. The firm is supported by professionals with vast expertise in hydropower and other fields. SEL currently operates two hydropower initiatives, one of which is functioning while the other is under development, both established under the BOOT (Build, Own, Operate, Transfer) framework.
