Singti Hydro Energy Limited has issued an IPO to the public from April 19 2021.
The company has issued a total of 2.9 million unit (29 Lakh kitta ) IPO at a face value of Rs 100. Amoung this , 2 percent ( 58,000 unit)shares have been reserved for the employees and 5 percent ( 145,000 unit)shares have been distributed to the Mutual funds. The general public will be able to apply for the remaining 26 lakh 97 thousand unit.
A minimum of 10 unit and a maximum of 200,000 unit can be applied for in this IPO. The earliest closing date is Chaitra-10, 2077. If the issue is not subscribed till the earliest closing date then the issue will be extended till Chaitra-20, 2077.
Mega Capital Markets Limited has been appointed as the issue manager.
CARE Rating Nepal has given CARENP BB-(Is) rating to the company for the public issue. This indicates that the company is moderately safe to meet financial obligations on time.
Currently, investors in the primary market are very attracted. About 1.8 million people have applied for the latest IPO of Jyoti Life Insurance Company. The IPO of Singti Hydro Energy will also get more than 1.8 million applications. However, only 269,700 applicants for the company’s IPO will get shares at the rate of 10 unit. Therefore, it seems appropriate to invest only 10 unit or Rs 1,000 in IPO of Singti Hydro Energy .
The Nepal Securities Board (NSB) had given permission to Singti Hydro to issue a total of 4.35 million IPO unit for the project-affected and the public on Push 21. In the first phase, the company had issued IPO worth Rs. 145 million for the residents of Bigu and Kalinchok villages of Dolakha district from Magh 4 to Phagun 3.
The IPO is equivalent to 30 percent of the company’s paid-up capital. After the IPO sale, the company’s paid-up capital will reach Rs 1.45 billion.