Sanvi Energy Limited's IPO Opens for Locals and Nepalis Working Abroad

Sanvi Energy Limited's IPO Opens for Locals and Nepalis Working Abroad

Sanvi Energy Limited has opened its IPO from Baisakh 5 (April 17) for locals affected by the project in Ilam district and for Nepalis working abroad. The company is issuing shares worth NPR 88 million — 880,000 units for project-affected locals and 291,000 units for Nepalis with foreign employment permits. Locals can apply for a minimum of 10 units, while Nepalis abroad can apply for a minimum of 20 units, both up to a maximum of 20,000 units at a face value of NPR 100 per share.

The application deadline for locals is until Baisakh 19 (May 1) at the earliest and up to Jestha 3 (May 16) if not fully subscribed, while for Nepalis working abroad, the deadline is Baisakh 19 (May 1). Care Ratings Nepal has assigned Sanvi Energy a "CARE NP Double B Plus" issuer rating, indicating an average risk regarding the company's ability to meet its obligations on time.