Kathmandu. Sanvi Energy is going to open the IPO sale from April 15. The company is going to issue an IPO for the local and foreign employed Nepalis in the project-affected areas.
The company has got permission to issue an IPO worth Rs 379 million, which is 43.07 percent of the issued capital of Rs 880 million. Accordingly, the company will open a total of 3.79 million units of IPO at a face value of Rs 100.
The company will sell 880,000 units of shares representing 10 percent of the issued capital to the locals of the project-affected areas. Ilam Municipality Ward No. 1of Ilam District in this IPO. Ward no. 10 (ward no. 1 to 9 of the erstwhile Godak VDC), ward no. 1 of Maijogmai rural municipality (ward no. 1 to 4 and 6 to 9 of the erstwhile Naya Bazar VDC) of Mai Gojamai rural municipality ward no. 10. Ward no. 3 and 4 (ward no. 1 to 9 of the erstwhile Namsaling VDC) and ward no. Suryodaya Municipality Ward No. 50. Ward No. 10 (ward no. 6 to 9 of the erstwhile Fikkal VDC) and Suryodaya Municipality Ward No. Residents of wards 2, 6 and 8 of panchakanya VDC can apply.
Similarly, 33 of the issued capital allocated for the general public. Nepal can apply for 291,000 units of 10 per cent of the 2.91 million units.
Investors of both groups will have to apply for a minimum of 10 units of shares and a maximum of 20,000 units of shares. Locals can apply from the project site, all the banks and financial institutions that have received C-ASBA membership from the Securities Board of Nepal and their designated branch offices and nabil bank’s fickle branch offices.
Nepalis in foreign employment can apply through all C-ASBA member banks and financial institutions approved by the Securities Board of Nepal and their designated branch offices and ‘My Shares’ of CDSC.
The ipo issued for the locals of the project-affected areas will be closed at the earliest on May 15 and late on May 15. Nepalis in foreign employment will be able to apply for the IPO till May 15.
Nepal SBI Merchant Banking is the IPO sales manager of Sanvi Energy.
