IPO Alert: Singati Hydro Energy Limited issuing IPO shares to general public from today

Singati Hydro Energy Limited is issuing an IPO to the general public from today (6th Chaitra to 10th Chaitra, 2077). If the issue is not subscribed by the early closing date, the deadline can be extended up to Chaitra 20.

The company has a total of 1.45 crore registered shares of which 29 lakh shares will be issued in the upcoming IPO. Thus, the IPO will raise a total of Rs. 29 crores in paid-up capital.

2% of the issue, i.e. 58,000 units have been set aside for the employees of the company and another 5% to mutual funds i.e 1,45,000 units. The remaining 26,97,000 units are purely for individual investors. Investors can apply for a minimum of 10 units and a maximum of 2,00,000 units.

Mega Capital Markets Limited has been appointed as the issue manager for the IPO issuance. 

The company is issuing 43,50,000 units IPO shares, out of which 14,50,000 units share is already offered to locals of project affect areas in the first phase and the remaining shares are now offered to the general public in the second phase.

After the issuance of shares to locals and general public company capital will be Rs 1.5 arba and public and promoter shares holding will be 70:30.

CARE Ratings Nepal Limited (CRNL) has assigned ‘CARE-NP BB- (Is)’ rating to SHEL.

SHEL was initially incorporated as a private limited company named Singati Hydro Energy Private Limited on May 19, 2010. Later on, it converted to a public limited company named Singati Hydro October 2020 5 Energy Limited on June 20, 2018. It is promoted by various institutional and individual promoters from different backgrounds for setting up of a 25 MW run-of-river, Singati Khola Hydropower Project (SKHP) in Dolakha district of Nepal. The project is one of the ‘super six’ hydropower projects in Nepal. This project is constructed under BOOT (Build, Own, Operate, and Transfer) mechanism. RC Hydro Investment Private Limited (8.44%), Mr. Batu Lamichhane (8.24%), Mr. Ganesh Karki (6.27%) are the major shareholder of the company.

Locals Allotment Completed; When Will IPO of Singati Hydro Energy Open for General Public?

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Everything You Need to Know About the Company