SEBON Adds 37,90,000 unit IPO Shares of Sanvi Energy Limited in its Pipeline

Sanvi Energy Limited has presented an IPO proposal to SEBON, the capital market regulator, with the goal of issuing 3,790,000 shares, raising a total of Rs. 37.9 crores for the company. This application was submitted on Bhadra 27, 2080.

The responsibility of being the issue manager for this public offering has been entrusted to Nepal SBI Merchant Banking. CARE Ratings Nepal Limited (CRNL) has assigned a rating of 'CARE-NP BB+ (Is)' to Sanvi Energy Limited, signifying a moderate level of risk regarding the company's ability to meet its financial obligations in Nepal.

Pending approval from SEBON, the company intends to issue 37,90,000 unit shares to the general public, each with a par value of Rs 100, resulting in a cumulative worth of Rs 37.90 crores. Nepal SBI Merchant Banking Limited will act as the issue and sales manager, and an agreement has already been formally established.

The initial phase of share allocation will be directed towards project-affected local residents and Nepali citizens working abroad. Subsequently, in the second phase, the company plans to make shares available to the broader public, including company employees and mutual fund schemes.

Sanvi Energy Limited, initially established as a private limited company in 2011 A.D, underwent a transformation into a public company on July 09, 2020, with the primary objective of offering shares to the general public. Currently, the company oversees two hydropower projects: the 7.6 MW run-of-the-river Jogmai Khola Small Hydroelectric Project situated in Ilam District, and the 5.2 MW Jogmai Cascade Hydroelectric Project.