Shuvam Power has been offering 481,882 IPO shares units starting on Magh 18th to the general public IPO. Shuvam Power Limited (SHUVAM) will begin offering 4,81,882 unit shares having a face value of Rs 100 as of today, or the 18th Magh of 2079.
Notice Date: February 12, 2023
On December 29, 2015, Shuvam Power Ltd., a public limited company, was founded. SPL has been running the 0.99 MW run-of-the-river Lower Piluwa Khola Small Hydroelectric Project (LPKHP), situated in the Sankhuwasabha District, since July 17, 2011. The company was granted a generation license by the government of Nepal’s Ministry of Energy on April 15, 2008.
More about General Public IPO | Shuvam Power has been offering 481,882 IPO shares units starting on Magh 18th.
The company wants to raise Rs. 4.81 crores through this IPO. The early closure date for this issue is Magh 22. If not fully subscribed, it may be extended through Falgun 3 in 2079. Of the total 580,580 units, 10%, or 58,058 units, have already been released and distributed to Nepalese citizens who live and work overseas.
Of the total issued shares, 2%, or 11,610 units, have been reserved for company employees, while 5%, or 29,030 units, have been reserved for mutual funds. Of the remaining units, 4,81,882 are accessible to the general public. The company’s paid-up capital will be 20 crores of rupees following the IPO. Muktinath Capital Ltd. is the issue manager for the IPO issuance. An application may request a minimum of 10 units and a maximum of 5,000 units. Following the IPO, the promoter-public share ratio will be 70:30.
People in the Sankhuwasabha district impacted by the project from Jestha 20, 2075, to Ashadh 24, 2075, received 2,00,000 unit IPO shares, or 10% of the company’s earlier issued capital Rs. 20 crores. Only shares worth Rs 19.42 lakh, or 19420 units, were sold to qualified applicants. The remaining 180,580 unsubscribed shares are added to the existing 400,000 units, which translates into the public receiving 580,580 units, or 20% of the shares set aside for the General Public.
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