IPO for project-affected locals: Singati Hydro Energy issuing 14,50,000 units IPO shares from Magh 4

Singati Hydro Energy Limited (SEHL) is issuing its 14,50,000 unit IPO shares to the project-affected locals of Dolkha District from Magh 4, 2077.

The IPO issue for locals is open from Magh 4- Magh 18. If unsubscribed, the issue can be extended to Falgun 3, 2077. The interested locals can place their applications 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 will issue 43,50,000 units IPO shares, out of which 14,50,000 units share is offered to locals of project affect areas in the first phase and the remaining shares will be offered to the general public later 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 background 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.

Click here for Offer Letter: