Sanima Mai Hydropower Company Limited's IPO is issuing 21,100,000 units
of shares to the general public which will open from 4th Ashwin 2070 and
will be closed on 8th Ashwin 2070. The total capacity of the hydropower
project is 22 MW and is situated at Chisapani, Danabari of Illam in
Eastern Nepal.Sanima Mai Hydropower is promoted by (NRNs) Upendra Mahato, Jivanath Lamichhane, Arun Kumar Ojha and others. The promoters of Sanima Bank Limited are involved with this project so we can expect the management team of the company to be very good. The management of the company is headed by Dr.Subarna Das Shrestha who has 13 years of experience in the field of hydropower sector. The promoters have invested 70% while 10% of the shares have already been allotted to the locals of affected areas and remaining 20% of the shares is being issued to the general public. The project is expected to be completed by 2070/10/25 and the electricity generation to start by 2071/3/30.
The authorized capital and the issued capital of the company is Rs.2,700,000,000 and Rs.1,055,000,000. The of paid up capital of the company will be raised to Rs. 1,055,000,000 after issuing shares for the general public. The reserve and surplus and net worth per share of the company at the end of the fiscal year 2070/71 is projected to stand at Rs.8,20,000 and Rs.100.77 respectively. The company's loan from the bank is expected has no plans to increase its capital till fiscal year 2074/75 so we can expect only cash dividends in the near future. It has projected 5% cash dividend for its shareholders in fiscal year 2072/73, 15% in 2073/74 and 15% in 2074/75 and 22.50% in 2075/76. It is better for long term investment as the returns from the hydropower projects are derived over a long period of time only.
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-FrEaK_MoNeY
