SEBON Adds IPO Shares of Himalayan Re-insurance Limited and Sanvi Energy Limited in its Pipeline

Sun, Sep 17, 2023 12:31 PM on IPO/FPO News, Latest,

The Initial Public Offering (IPO) of Himalayan Re-insurance Limited has been added to SEBON’s IPO pipeline for approval.

The company is seeking to issue 30,000,000 unit shares to the general public at a premium price of Rs. 208 per share (Rs 100 face value + Rs 108 premium price). The IPO issue will raise a total of Rs. 6.24 Arba.

Likewise, NMB Capital Limited has been appointed as the issue manager for the IPO issuance. The application was sent to SEBON on Bhadra 26, 2080.

ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- (pronounced ICRA NP Issuer Rating A Minus) to Himalayan Reinsurance Limited, indicating an adequate degree of safety regarding the timely servicing of financial obligations. Such issuers carry low credit risk.

Similarly, the IPO proposal of Sanvi Energy Limited is also added to SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 3,790,000 shares. This will raise Rs. 37.9 crores for the company. The application was submitted on Bhadra 27, 2080.

Nepal SBI Merchant Banking has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of `CARE-NP BB+ (Is)’ to Sanvi Energy Limited. Issuers with this rating are considered to offer moderate risk of default regarding timely servicing of financial obligations, in Nepal.