Samling Power Company IPO – Will issue 12.30 million shares in an initial public offering

Jeevan Bikas Laghubitta To Float 19,77,300 Shares In IPO

Samling Power Company Limited (SPCL) intends to issue an initial public offering (IPO) (Initial Public Offering). The Securities Board of Nepal (SEBON) granted final approval for the public issuance on Ashad 31, 2078 BS. On Magh 5, 2077 BS, the hydropower company submitted an application to SEBON.

Following Sebon’s approval, the company will sell 12.30 lakh shares in a public offering. In the first phase, the hydropower company will distribute shares to residents of the project’s affected area. Similarly, in the second phase of the IPO, the company will sell shares to the general public.

For the sale of shares in the IPO, the company has appointed Nepal SBI Merchant Banking Limited as the issue manager. In addition, the company has appointed Nepal SBI Merchant Banking Limited as the share registrar to handle all aspects of the company’s share management in the coming days, in conjunction with the IPO. The agreement was signed by Chief Executive Officer Bhanubhakta Pokhrel on behalf of Samling Power Company and Chief Executive Officer Roshni Bharti on behalf of Nepal SBI Merchant Banking.

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The public offering represents 24.60 percent of the total issued capital. As a result, following the IPO, both locals and the general public will own 24.60 percent of the company. Similarly, the promoters will own 75.40 percent of the company.

Samling Power Company

Samling Power Company Limited (SPCL) was founded in 2014 as a hydropower development company. The company’s major promoters are CE Construction Private Limited and Urja Developers (an affiliated company of CE). SPCL’s major shareholders are CE Construction Pvt Ltd (15%) and Urja Developers Pvt Ltd (5%).
(8%), Mohan Bikram Karki (3%), Grande Holdings Pvt Ltd (3%), and so on [as of mid-July 2020].

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In the Ilam district, Samling Power Company is building a 9.51 MW Mai-Beni Hydropower Project. The project’s total cost is estimated to be Rs 1.865 Arba. According to the PPA signed with the NEA, the project’s required commercial operation date is November 2021. In November 2016, Samling Power Company (SPCL) signed a power purchase agreement (PPA) with the Nepal Electricity Authority (NEA) for Rs 4.8 per unit during the wet season and Rs 8.4 per unit during the dry season.

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