Kathmandu. Sanvi Energy Limited is going to issue an IPO from Baisakh 5th. The company is going to issue an IPO for the local residents of the project-affected areas and Nepalis working abroad.
The company is going to issue 880,000 units of ordinary shares at a price of Rs 100 per share, equivalent to Rs 88 million, of the issued capital of Rs 880 million, for the local residents of the project-affected areas.
For the purchase of these shares, Ilam Municipality Ward No. 10 (formerly Godak VDC wards 1 to 9), Maijogmai Rural Municipality Ward No. 1 (formerly Naya Bazaar VDC wards 1 to 4 and 6 to 9), Mai Gojmai Rural Municipality Ward No. 3 and 4 (formerly Namsaling VDC wards 1 to 9 and Naya Bazaar) Permanent residents of Ward No. 5 of VDC), Ward No. 10 of Suryodaya Municipality (formerly Wards No. 6 to 9 of Fikkal VDC) and Ward No. 1 of Suryodaya Municipality (formerly Wards No. 2, 6, 8 of Panchakanya VDC) can apply.
In addition, the company has stated that it is going to issue 291,000 units of ordinary shares worth 291 million rupees at a face value of Rs. 100 per share, which will be 10 percent of the shares allocated for general investors, to Nepalese who have obtained labor approval from the relevant body of the Government of Nepal and are employed abroad.
In the IPO, a minimum of 10 units will have to be applied for, while a maximum of 20,000 units can be applied for. The issuance for local residents of the project-affected areas will close on Baisakh 19 at the earliest and Jestha 3 at the latest. Nepalis employed abroad will have to apply by Baisakh 19.
The company’s share issuance and sale manager is Nepal SBI Merchant Banking Limited.
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