Sanvi Energy Limited IPO Allotment Concludes: Lucky 241,530 Applicants Allotted 10 Units Each via Lottery System

Sanvi Energy Limited's IPO allotment was concluded today at the premises of the issue manager, Nepal SBI Merchant Banking Limited, Central Plaza, Kathmandu.

Sanvi Energy Limited had issued 24,15,300 units worth Rs 24.15 crores as an Initial Public Offering (IPO) to the general public (9th Jestha- 13th Jestha, 2082).

Out of the total 2,910,000 units, 1,45,500 (i.e., 5% of 29,10,000) have been set aside for mutual funds, and 58,200 (i.e., 2% of 29,10,000) units have been set aside for the company's employees. The remaining 2,415,300 units were issued to the general public at a par value of Rs. 100.

The issue received a total of 20,30,157 applications for 23,795,640 units, resulting in an oversubscription of more than 9.85 times. Meanwhile, 3,674 applications were rejected.

As per the allotment module, a total of 241,530 applicants were allotted 10 units each via lottery.

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Nepal SBI Merchant Banking.

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.