IPO Proposals of These 2 Companies Finally Approved by SEBON
Tue, Jul 12, 2022 10:54 AM on Latest, IPO/FPO News,
The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Sikles Hydropower Limited (SLHL). The proposal was approved on Ashad 23.
The company will now issue 2,000,000 equity shares at a par value NPR 100 each. The amount of the issue is Rs. 20 Crore. Thus, the paid-up capital after the IPO will be Rs. 85 Crores. The promoter and the public shareholding after the IPO would be 76.47% - 23.53% ratio. At present promoter has Rs. 650,000,000 capital in the company.
BOK Capital Market Limited has been appointed as the issue manager for the proposed IPO issuance.
Sikles Hydropower Limited (SHL) is a public limited company, incorporated in July 28, 2004 as a private limited company and later converted to public limited company in May 17, 2019. The company is setting up 13MW run-of-the-river Madkyu Khola Hydroelectric Project (MKHP) at Kaski District of Nepal. The project came into a commercial operation since April 2, 2018. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism.
Similarly, SEBON has also approved the IPO proposal of Aviyan Laghubitta Bittiya Sanstha Limited (AVI).
The company will now issue 975,000 equity shares at a par value NPR 100 each. The amount of the issue is Rs. 9.75 Crore. This is 39% of the company's issued capital. Thus, the paid-up capital after the IPO will be Rs. 25 Crores. At present promoter has Rs. 152,500,000 i.e 61% capital in the company.
Muktinath Capital Limited has been appointed as the issue manager for the proposed IPO issuance. SEBON approved the IPO issue on Ashad 24.
Incorporated in April 2019, the company started its operation in November 2019 as a licenced national level class D microfinance institution. AVI is promoted by two commercial banks (Mega Bank and Kumari Bank Limited with holdings of ~16.4% each) and 246 individual promoters. Mr. Laxmishwor Devkota is the Chief Executive Officer of the company. The registered and corporate office of AVI is in Panauti-5 Kavre, Nepal.
