KATHMANDU, April 18: Sanvi Energy Limited's IPO has been publicly issued starting Friday. From today, the company has launched the IPO for local residents of areas affected by its hydropower projects and Nepali workers residing abroad.
The company is currently developing the Jogmai Khola Small Hydroelectric Project (7.6 MW capacity) and Jogmai Cascade Hydroelectric Project (5.2 MW capacity) in eastern Nepal.
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The company has received approval from the Securities Board of Nepal (SEBON) to issue a total of 3.79 shares worth Rs 379 million at a face value of 100 rupees per share.
In the first phase, 880,000 shares have been allocated for local residents affected by the project, while 291,000 shares are reserved for Nepali citizens working abroad.
Applicants must apply for a minimum of 10 shares, and they can apply for up to a maximum of 20,000 shares. For local residents affected by the project, the IPO issuance will close as early as May 2 and at the latest by May 17. However, Nepali citizens working abroad must submit their applications by May 2, according to the company.
Nepal SBI Merchant Banking Limited is the IPO issuance and sales manager for the company.
