SEBON Adds IPO Proposal of Solar Farm To Its Pipeline

The IPO proposal of Solar Farm Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 1,928,572 shares. This will raise Rs. 19.28 crores for the company. The application was submitted on Baisakh 07, 2082.

Kumari Capital Limited has been appointed the issue manager for the public offering.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] B (pronounced ICRA NP Issuer rating B) to Nepal Solar Farm Limited. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of their financial obligations.

Nepal Solar Farm Limited was incorporated as a private limited company on September 18, 2017, before being converted to a public limited company on May 10, 2023. The company owns and operates a 4-MW Som Radhakrishna Solar Farm project at Kaski district in the Gandaki Province of Nepal since October 31, 2022. The project generated ~81% of contract energy in FY2023 and has generated ~87% of contract energy till 10M FY2024.