Today, 4th Kartik, Samling Power Company Limited launches its initial public offering. The issue closes early on 8th Kartik, 2078. The issue will close on Kartik 18 unless the early closing date is met.
The company will issue 7,30,000 unit shares at a par value of Rs. 100 each. Total issued capital is 14.6% of this amount. Employees of the company will receive 14,600 shares of the issue, and mutual funds will receive 36,500 shares. Private individuals will receive the remainder of 678,900 shares.
The issue manager has been named Nepal SBI Merchant Banking Limited. The minimum number of units required is 10 and the maximum number is 20,000. ICRA Nepal has assigned the issuer a Double B Minus rating, which indicates that the issuer is at moderate risk of defaulting on financial obligations.
In order to explore the feasibility, construction, and operation of hydropower projects in Nepal, Samling Power Company was incorporated in the Office of the Company Registrar, Government of Nepal on 2070/12/23.
Samling Power Company Limited has been operating under the name Samling Power Company Limited since 2076/2/24, when it became a public limited company, with the purpose of expanding public participation of those living in the project area.
For the purpose of selling the electricity generated by its project, the company has already entered into a power purchase agreement with the Nepal Electricity Authority (NEA).
A 9.51 MW hydro project in Illam district of the company was put into operation from Aswin 1, 2078. Mai Beni Hydropower Project is a run-of-river hydropower project located in the Illam district of Nepal’s eastern portion. Its installed capacity is 9.51 MW.
The company’s project has a simple payback period of 7.07 years and a discounted payback period of 12.24 years.
Source: Share Sansar