Sanima Middle Tamor Hydropower is issuing 42,48,938 Units of Shares to General Public from Today

Sanima Middle Tamor Hydropower is issuing 42,48,938 Units of Shares to General Public from Today

Sanima Middle Tamor Hydropower is Issuing 42,48,938 Units of Share to the General Public from 10th Falgun 2079 or Today.

On this day, 26 Falgun 2079, Sanima Middle Tamor Hydropower Ltd is starting the issuance of 42,48,938 unit shares with a face value of Rs 100. The business expects this IPO to bring in Rs 42.48 crore. If the issue is not completely subscribe, it may prolong until the 10th Chaitra of 2079. The early closing date for this issue is on the 30th Falgun.

10%, or 499,875 units, of the total 49,98,750 units have already release and allocate to Nepalese residents working abroad, while mutual funds have been allocated 5%, or 249,937 units, of the total, offered shares. The general public will receive the remaining 42,48,938 units.

After the IPO, the company’s paid-up capital will amount to Rs. 3.33 Arba.

Prior to this, the corporation offered 4,99,875 unit shares to Nepalese nationals working abroad and 33,32,500 unit shares worth Rs. 33.32 crores to residents impacted by the project. In all, the promoter owners own 70% of the company’s shares.

Sanima Capital Ltd is select to serve as the IPO’s issue manager. A minimum of 10 units and a maximum of 20,000 units can requeste in an application.

Care Rating

The long-term bank facilities of Sanima Middle Tamor Hydropower Limited continue to have the “CARE-NP BB” rating from CARE Ratings Nepal Limited (CRNL).

About the Company

In 2016, Sanima Middle Tamor Hydropower Ltd was founded and incorporated. As a Special Purpose Vehicle (SPV) Corporation for the execution and management of the Middle Tamor Hydropower Project. With its office situated in Dhumbarahi, Kathmandu, Nepal.

It is supported by independent promoters with a variety of backgrounds, institutional investors mostly connected to the Sanima Hydro group, non-resident Nepalis, and other organizations including banks, insurance companies, and investment firms.

One of the sister companies of the Sanima Hydro Group, which began in 1999 B.S. with the founding of Sanima Hydropower Limited, is SMTHL.

The main goal of Sanima Hydropower Ltd., a publicly traded corporation, is to realize the hydropower industry of Nepal’s enormous potential.

In 2005, the business created and put into service the 2.6 Megawatt Sunkoshi Small Hydropower Project. The Middle Tamor Hydropower Project, a 73 MW run-of-river project, is being built in Nepal’s Taplejung district. The Build, Own, Operate, and Transfer (BOOT) construction process is used for this project.

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