Sanvi Energy Limited IPO Closing Today for Illam Locals and Nepalese Abroad

Sanvi Energy Limited is closing the issue of its IPO for project-affected locals of the Illam District and Nepalese citizens working abroad today, the 19th Baishakh, 2082. The issue opened on the 5th Baishakh, 2082.

The issued capital of the company is Rs. 88 Crore, of which 10%, i.e., 8,80,000 unit shares worth Rs. 8.80 Crores, will be allocated to project-affected locals of Ilam District. Meanwhile, 33.07% of the company's issued capital, i.e., 29,10,000 unit shares, will be issued later for the general public. Of this public issue, 10% of the shares, totaling 2,91,000 shares, have been allocated for Nepalese citizens working abroad, he issue of which will close today.

The minimum application quantity for the project-affected locals is 10 units, and the maximum is 20,000 units. Similarly, the minimum application quantity for Nepalese citizens working abroad is 10 units, and the maximum is 20,000 units.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager.

According to CDSC, 56,543 applications have been received through Nepalese citizens working abroad for a total of 12,31,720 units so far, and 2,621 applications have been received through Nepalese citizens working abroad for a total of 16,04,130 units so far.

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.

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