Home / Business / Do Not Forget: Last Day to Apply for IPO of Samling Power Company Limited

Do Not Forget: Last Day to Apply for IPO of Samling Power Company Limited

Samling Power Company Limited is concluding its IPO issue today, i.e. 8th Kartik, 2078. The issue will conclude today at the end of banking hours.

7,30,000 unit shares have been issued at a par value of Rs. 100 per unit. This is 14.6% of the company’s issued capital. 2% of the issue worth 14,600 shares have been allocated for employees of the company and 5% worth 36,500 shares for mutual funds. The remaining 678,900 shares are purely for the individual public.

Nepal SBI Merchant Banking Limited has been appointed the issue manager. Applicants can apply for a minimum of 10 units to a maximum of 20,000 units. According to CDSC, 15,52,370 applicants have applied for a total of 1,87,54,710 units. This is the data as of the third day yesterday. Thus, the issue is already oversubscribed over 27.62 times.

ICRA Nepal has given the issuer rating of Double B Minus, denoting a moderate risk of default regarding timely servicing of financial obligations.

Samling Power Company was registered in the Office of the Company Registrar, Government of Nepal as a private company on 2070/12/23 in order to identify the feasibility, construction, and operation of hydropower projects in Nepal. This company has been operating in the name of Samling Power Company Limited by transforming into a public limited company on 2076/2/24 for the purpose of expanding public participation of the residents and general public of the project affected area.

The company has already entered into a power purchase agreement with the Nepal Electricity Authority (NEA) for the purpose of selling the electricity generated from its project.

The company has already brought in operation 9.51 MW Maibeni hydro projects in the Illam district from Aswin 1, 2078. Located in the middle reach of Mai River in the Illam district of the eastern part of Nepal, Mai Beni Hydropower Project is a Run-of-River type hydropower project with an installed capacity of 9.51 MW.

The simple payback period of the company’s project is 7.07 years and the discounted payback period is 12.24 years.

Leave a comment

Check Also

Share Trading of Ridi Power Company Limited (RIDI) Finally Released After 10 Days

Few days back, according to the official notice of the Nepal Stock Exchange (NEPSE), the ...