Kathmandu. Sanvi Energy Limited has opened its IPO issuance and sale from today. 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 ordinary shares worth 880 million rupees at a price of 100 rupees per share, equivalent to 88 million rupees, for the local residents of the project-affected areas.
The shares will be purchased by the following people: Ward No. 10 of Ilam Municipality (formerly wards 1 to 9 of Godak VDC), Ward No. 1 of Maijogmai Rural Municipality (formerly wards 1 to 4 and 6 to 9 of Naya Bazaar VDC), Ward No. 3 and 4 of Mai Gojmai Rural Municipality (formerly wards 1 to 9 of Namsaling VDC), and Naya Bazaar. Permanent residents of Ward No. 50 of the VDC, Ward No. 10 of Suryodaya Municipality (formerly Wards No. 6 to 9 of the former Fikkal VDC) and Ward No. 1 of Suryodaya Municipality (formerly Wards No. 2, 6, 8 of the former 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, for 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 April 19 at the earliest and on June 3 at the latest. Nepalis employed abroad will have to apply by April 19.
Nepal SBI Merchant Banking Limited is the company’s share issuance and sale manager.
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