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Shuvam Power IPO Issuing to General Public from Magh 18

huvam Power IPO Limited will issue 4,81,882 shares with a face value of Rs 100 each on 18th Magh, 2079. The company intends to raise Rs 4.81 crore through this IPO, with an early closing date of 22nd Magh. It is possible that the issue will be extended up to Falgun 03, 2079 if it is not fully subscribed. A total of 10% of the shares are allocated to Nepalese citizens working abroad, 2% to company employees, 5% to mutual funds, and the remaining 4,81,882 shares are available to the public. The IPO will increase the company’s paid-up capital to Rs. 20 crores.

It had previously issued 2,00,000 IPO shares, which are 10% of the company’s issued capital of Rs. 20 crores, to local residents affected by the company’s project in Sankhuwasabha district from Jestha 20, 2075 to Ashadh 24, 2075. The only shares sold to valid applicants were worth Rs 19.42 lakh, or 19420 units. To make a total of 580,580 units available to the general public, the remaining 180,580 unsubscribed shares were added to 400,000 units, which is 20% of the shares reserved for the general public.

The IPO will be managed by Muktinath Capital Limited, and applications can be submitted for as few as 10 units or as many as 5000.

The company’s promoter-public share ratio will be 70:30 after the IPO, and its capital will increase to Rs 20 crore.

Shuvam Power IPO Details

Company Name Shuvam Power Limited
IPO Open Date Magh 18
IPO Close Date Magh 22
No. of Shares (General Public) 4,81,882 
No. of Shares (Employees) 11,610 
No. of Shares (Mutual Funds) 29,030 
Issue manager Muktinath Capital
CARE Ratings CARE-NP BB+ (Is)

About Company

It was established on December 29, 2015 as a public limited company. In the Sankhuwasabha District, the company operates the 0.99MW Lower Piluwa Khola Small Hydroelectric Project, which has been commercially operating since July 17, 2011. April 15, 2008 was the date the company was granted a Generation License by Nepal’s Ministry of Energy.

The issuer rating of Shuvam Power Limited has been assigned by CARE Ratings Nepal Limited as “CARE-NP BB+ (Is).” The rating indicates that the company has a moderate risk of default regarding timely servicing of its financial obligations in Nepal.


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