IPO for General Public: Sanvi Energy Limited to Issue 24,15,300 IPO Shares from Jestha 9

Sanvi Energy Limited (SANVI) will issue 24,15,300 unit IPO shares at a par value of Rs. 100 from 9th Jestha, 2081. The early closing date of this issue is on the 13th Jestha, 2082, and if the issue is not fully subscribed, it can be extended up to the 23rd Jestha, 2082.

Sanvi Energy Limited is set to open its Initial Public Offering (IPO) to the general public starting from Jestha 9. This follows the completion of share allotments to residents of the project-affected areas and Nepali citizens working abroad. The company is offering 24,15,300 units of ordinary shares at a face value of Rs. 100 per share, amounting to a total public issue of Rs. 24.15 crore.

Earlier, the company had issued 8,80,000 ordinary shares worth Rs. 8.80 crore to local residents of the project-affected area and 2,91,000 ordinary shares worth Rs. 2.91 crore to Nepali citizens working abroad with labor approval from the Government of Nepal. Likewise, 1,45,500 shares were allocated to mutual funds and 58,200 shares to the company’s employees.

Nepal SBI Merchant Banking Limited is appointed as the issue manager. Applications can be placed for a minimum of 10 units and a maximum of 20,000 units.

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.

Offer Letter: