Singhati Hydro Energy (SHEL)'s 43.50 lakh units Initial Public Offering has been added to the IPO pipeline by Securities Board of Nepal (SEBON).
Mega Capital Markets has been appointed as the issue manager of the IPO.
CRNL has assigned grading of ‘CARE-NP IPO Grade 4’ to the proposed Initial Public Offer (IPO) of Singati Hydro Energy Limited (SHEL). ‘CARE-NP IPO Grade 4’ indicates Below Average Fundamentals.
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 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.