IPO Proposal of These Three Companies Added Under SEBON's Pipeline

The IPO proposals of three companies are added to SEBON's pipeline.

Rawa Energy Development Limited (REDL) has submitted a proposal to issue 840,000 unit shares at a par value of Rs. 100 per share for locals and general public. This IPO issue will generate Rs. 8,40,00,000 for the company. Prabhu Capital has been appointed the issue manager. The proposal was submitted on Ashad 13.

Rawa Energy Development Ltd REDL is a public limited company, incorporated in August 16, 2009 as a private limited company and later converted to public limited company in June 28, 2019. It is promoted by business persons having long experience in the hydropower and other sectors for setting up Hydroelectric Project (HEP) in the territory of Nepal.

Similarly, Trade Tower Limited (TTL) has also submitted its proposal to issue 1,158,980 shares at Rs. 100 per share to the general public. This IPO issue will generate Rs. 115,898,000 for the company. Laxmi Capital Market has been appointed the issue manager. The proposal was submitted on Ashad 14.

Established in 2067 B.S., Trade Tower Limited is involved in businesses such as Hotels & Hospitality, Lodging & Financing, Construction, and various other investments. Completed projects under Trade Tower Limited are Trade Tower Thapathali and Janata Residency Bhaisepati.

Likewise, Upper Syange Hydropower Limited (USYHL) has submitted its own proposal to issue 870,000 shares for the public and project-affected locals at Rs. 100 per share. Siddhartha Capital has been appointed the issue manager. The proposal was submitted on Ashad 31.

Upper Syange Hydropower is a Public Limited company, incorporated as on January 26, 2009 as Upper Syange Hydropower Private Limited and converted to Public limited on March 30, 2017. It is promoted by both individual and institutional promoters from different background. It is setting up of a 2.4 MW Run- of-River (RoR), Upper Syange Hydropower Project (USHP) in BOOT (Build, own, Operate and Transfer) mechanism and located at Lamjung district of Nepal.