IPO Proposals of Sayapatri Hydropower and Mandakini Hydropower Finally Approved by SEBON
Fri, Jun 3, 2022 10:45 AM on IPO/FPO News, Latest,

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Sayapatri Hydropower Limited (SPHL) and Mandakini Hydropower Company Limited (MAHCL). Both proposals were approved on Jestha 18.
SPHL will now issue 900,000 equity shares at a par value NPR 100 each. The amount of the issue is Rs. 9 Crore. This is 30% of the company's issued capital. The total paid up capital after the IPO allotment would be Rs 30 crore of the company.
NIBL Ace Capital Limited has been appointed as the issue manager for the proposed IPO issuance.
Sayapatri Hydropower Limited is public limited company, incorporated on July 30, 2007, promoted by institutional as well as individual promoters from different background. It is currently operating 2.5 MW Daram Khola ‘A’ hydro power project in run –of –river scheme located at Baglung district, Nepal. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism. The commercial production and sale of power started from June 26, 2016.
Similarly, MAHCL will now issue 17,64,110 unit shares of Rs 100 par value and raise Rs. 17.64 crores. This is 30% of the issued capital. The total paid up capital after the IPO allotment would be Rs 58.80 crore of the company.
BOK Capital Market has been appointed the issue manager.
Mandakini Hydropower Pvt. Limited is an Independent Power Producers Association Nepal (IPP) of Nepal, owns the Sardi Khola Hydropower Station. It is a run-of-river hydroelectric plant located in the Kaski District of Nepal. The flow from the Sardi River is used to generate 4 MW of electricity. The plant started generating electricity from 2074-08-23 BS. The generation license will expire in 2105-03-12 BS, after which the plant will be handed over to the government. The power station is connected to the national grid and the electricity is sold to Nepal Electricity Authority.