SEBON Approves 50% Right Shares of Synergy Power Development Company, Company to Issue 40.32 Lakh Right Shares Soon

The Securities Board of Nepal (SEBON) has approved the rights offering proposal of Synergy Power Development Company (SPDL) on Ashad 20, 2080.

The hydropower company will be issuing 50% right shares worth Rs. 40.32 Crores through the issue of 4,032,875 (1: 0.50) units of right shares to its existing shareholders. The current paid-up capital of the company is Rs. 80,65,75,000. After the adjustment of the proposed right share, the paid-up capital of the company will increase to Rs. 120.98 crores.

Sanima Capital is appointed as the issue manager. The application was submitted to the board on Falgun 05, 2079.

Synergy Power Development Limited was established on January 12, 2007, as a private limited company and was converted into a public limited company on December 27, 2013. The company has been operating the 9.7-MW Siprin Khola HEP since January 16, 2013, which is an R-O-R type developed at 40% probability of exceedance (Q40) in Dolakha district, Bagmati province of Nepal. The project was developed at a cost of ~NPR 150 million per MW. The project had an average generation of ~70% in the last five years ending FY2021.