IPO for General Public | Shuvam Power Limited is going to issue 481,882 Units of IPO Shares from 18th of Magh

IPO for General Public | Shuvam Power Limited is going to issue 481,882 Units of IPO Shares from 18th of Magh

An offer letter for Shuvam Power Ltd’s (SHUVAM) Initial Public Offering (IPO) to the general public has already issue.

From the 18th Magh of 2079, the corporation will issue 4,81,882 unit shares with a face value of Rs 100. With this IPO, the business hopes to raise Rs. 4.81 crore. This issue’s early closing date is on 22 of Magh 2079. But if it is not completely subscrib, it can extend until Falgun 3 in 2079.

10%, or 58,058 units, of the total 580,580 units have already release and allocat to Nepalese people living and working abroad. 2%, or 11,610 units, have set aside for firm personnel, while 5%, or 29,030 units, of the total offered shares, have 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 crore.

The project-affected people of Sankhuwasabha district from Jestha 20, 2075 to Ashadh 24, 2075 received 2,00,000 unit IPO shares earlier from the business, representing 10% of the issued capital of Rs. 20 crores. The only shares sold to the qualified applicants, however, were those valued at Rs 19.42 lakh, or 19420 units. A total of 580,580 units will offere for the general public, which includes the remaining 180,580 units of unsubscribed shares and 400,000 units (or 20% of the shares reserved for the general public).

As the issue manager for the IPO issuance, is Muktinath Capital Ltd. The number of units for which an application can submit ranges from 10 to 5000.

About the IPO for General Public | Shuvam Power Limited

The promoter-public share ratio would be 70:30 following the IPO, and the company’s total capital will rise to Rs 20 crore.

A public limited company named Shuvam Power Limited was established 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 been in service since July 17, 2011. The company was granted a generation license by the government of Nepal’s Ministry of Energy on April 15, 2008.

Shuvam Power Limited has received the issuer rating of “CARE-NP BB+ (Is)” from CARE Ratings Nepal Limited (CRNL).

In terms of timely debt repayment in Nepal, issuers with this grade are believed to have a low default risk.

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