IPO for General Public | Shuvam Power is issuing 481,882 Units of IPO Shares from the 18th of Magh

IPO for General Public | Shuvam Power is issuing 481,882 Units of IPO Shares from the 18th of Magh

From today or the 18th Magh of 2079, Shuvam Power Limited (SHUVAM), is starting the offer of 4,81,882 unit shares with a face value of Rs 100. With this IPO, the business hopes to raise Rs. 4.81 crores. This issue’s early closing date is on Magh 22. If it is not completely subscribe, it can extend until Falgun 3 in 2079.

10%, or 58,058 units, of the total 580,580 units have already release and allocate to Nepalese people living and working abroad. 2%, or 11,610 units, have been set aside for firm personnel, while 5%, or 29,030 units, of the total offered shares, have been put aside for mutual funds. 4,81,882 of the remaining units are available to the general public. After the IPO, the company’s paid-up capital will amount to Rs. 20 crores.

Short Detail About the Suvam Power Limited

Number of Share 4,81,882 Units of Shares
Face Value Rs. 100
For General Public
Issue Manager Muktinath Capital Limited
Opening Date 18 Magh 2079
Early Closing date 22 Magh 2079
If Fully not subscribed it can extend up to 3 Falgun 2079

The project-affected people of Sankhuwasabha district from Jestha 20, 2075 to Ashadh 24, 2075 received 2,00,000 unit IPO shares or 10% of the company’s issued capital of Rs. 20 crores, earlier. To the eligible applicants, only shares worth Rs 19.42 lakh or 19420 units were sold.

The 400,000 units are increasing by the remaining 180,580 units of unsubscribe shares. which equates to 580,580 units being distributed to the general public, or 20% of the shares designated for the people.

The IPO issuance’s issue manager is Muktinath Capital Ltd. A minimum of 10 units and a maximum of 5,000 units may request in an application. The promoter-public share ratio will 70:30 following the IPO.

About the Company

A public limited company named Shuvam Power Ltd is establish on December 29, 2015. The 0.99MW run-of-the-river Lower Piluwa Khola Small Hydroelectric Project (LPKHP), located in the Sankhuwasabha District, is operated by SPL and has in service since July 17, 2011.

On April 15, 2008, the firm received a Generation License from the Ministry of Energy of the Government of Nepal.

Shuvam Power Limited has received the issuer rating of “CARE-NP BB+ (Is)” from CARE Ratings Nepal Limited (CRNL). Issuers with this grade are thought to have a modest risk of default regarding timely payment of debts in Nepal.

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