Earlier, the hydropower company had issued its IPO for the project affected people of Islam district. As per the SEBON rule, hydropower companies must first issue shares to the people in the project affected areas, with 100 percent allotment.
Sanima Mai Hydropower had issued 10,55,000 unit ordinary shares to the people of 9 project affected VDCs, Illam municipality and 38 VDCs of the district.
In the upcoming IPO, SMHL has proposed to float an IPO of 2,110,000 equity shares of face value Rs 100 each. As per the approval received from SEBON, the company has a dateline to issue IPO within two months time.
The company has appointed NCM Merchant Banking Limited as the issue manager for its upcoming IPO.
Sanima Mai Hydropower Ltd (SMHL) is promoted by a group of veteran Non Resident Nepalese professionals who have extensive experience in a number of industries which include banking, insurance, real estate, engineering, construction. The main promoters group owns 65.36% of the shares either through direct holding or through group companies and balance is held by other individual promoters.
The company’s upcoming IPO received Grade 3 rating from ICRA Nepal, indicating the company’s average fundamentals.
-sharesansar
