IPO Issue of Sanvi Energy Limited Closing Today; Oversubscribed 7.82 Times So Far

Sanvi Energy Limited is closing the issue of 24,15,300 units of IPO shares at a par value of Rs 100 from today, the 13th Jestha, 2082. The issue was opened for the general public on the 9th Jestha, 2082.

This IPO opening follows the successful allotment of shares to the residents of project-affected areas and Nepali citizens working abroad. Previously, the company had allocated 8,80,000 units worth Rs. 8.80 crore to residents and 2,91,000 units worth Rs. 2.91 crore to Nepali migrant workers with labor permits. Additionally, 1,45,500 shares have been reserved for mutual funds, while 58,200 shares are set aside for company 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.

According to CDSC, 15,23,989 applicants have applied for 1,88,90,590 units worth Rs. 1.88 Arba. Thus, the issue has already been oversubscribed 7.82 times.

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.

Closing Notice: