SEBON Adds IPO Proposal of Vision Energy and Power Limited To Its Pipeline

The IPO proposal of Vision Energy and Power Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 8,300,000 shares. This will raise Rs. 83 Crores for the company. The application was submitted on Ashadh 30, 2082.

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

ICRA Nepal has assigned a [ICRANP-IR] BB issuer rating to Vision Energy and Power Limited (VEPL), indicating a moderate risk of default in meeting financial obligations. This rating reflects the company's overall creditworthiness, not linked to specific debt instruments. Additionally, ICRA Nepal reaffirmed VEPL’s long-term loan rating at [ICRANP] LBB and its short-term loan rating at [ICRANP] A4+ for its bank loan facilities.

Vision Energy and Power Limited (VEPL), incorporated in July 2016 and converted to a public company in July 2022, is developing the 57.5 MW Nupche Likhu Hydropower Project in Ramechhap, Bagmati Province. The run-of-river project, designed at Q45 exceedance, has a 37% dry energy mix and is structured under a seasonal PPA. The total project cost is estimated at ~NPR 10.98 billion, with a 72:28 debt-to-equity funding ratio. As of mid-July 2024, VEPL had ~NPR 2.64 billion in paid-up capital, fully held by promoters. Key investors include HIDCL (19%), Avasar Equity Diversified Fund (12%), NLHICL (8%), and other institutional and individual shareholders.