Sanvi Energy granted approval by Securities and Exchange Board of Nepal to …
Sanvi Energy has recently been granted the green light by the Securities and Exchange Board of Nepal to initiate an IPO. The Securities Board officially approved Sanvi Energy to go forward with the IPO launch on Chaitra 11. The IPO is set to be valued at 379 million rupees, which represents 43.07 percent of its paid-up capital.
The company plans to offer a total of 379 thousand units of the IPO at a face value of 100 rupees. The IPO sale will kick off in two phases, with the initial phase being exclusive to foreign employees and project-affected locals. Subsequently, the general public will have the opportunity to purchase shares in the company.
At present, Sanvi Energy boasts an investment of Rs 500 million 100 thousand, accounting for 56.93 percent of the founder’s group. Following the completion of the IPO sale, the company’s paid-up capital is expected to escalate to Rs 880 million. Nepal SBI Merchant has been appointed as the IPO sale manager for Sanvi Energy, facilitating the effective distribution and management of the IPO.
Overall, this strategic move by Sanvi Energy signals a significant step in its growth trajectory. By entering the IPO realm, the company aims to tap into the financial market and attract investments to fuel its expansion plans. The decision to go public not only opens up new avenues for financial resources but also enhances the company’s visibility in the industry.
Sanvi Energy’s pivotal decision to launch an IPO underscores a strong commitment to driving financial growth and establishing itself as a prominent player in the energy sector. By extending shares to a wider investor base, including the general public, the company is poised to create further opportunities for growth and development. With the necessary approvals in place, Sanvi Energy is on track to embark on this new chapter of its corporate journey.
