IPO alert: Samling Power Company Limited is opening its IPO issue from today

KATHMANDU: Samling Power Company Limited is opening its IPO issue from today. The early closing date of the issue is on 8th Kartik, 2078. If not subscribed by the early closing date, the issue will close on Kartik 18.

7,30,000 unit shares will be issued at a par value of Rs. 100 per unit. This is 14.6% of the company’s issued capital. 2% of the issue worth 14,600 shares have been allocated for employees of the company and 5% worth 36,500 shares for mutual funds. The remaining 678,900 shares are purely for the individual public.

Nepal SBI Merchant Banking Limited has been appointed the issue manager. Applicants can apply for a minimum of 10 units to a maximum of 20,000 units. ICRA Nepal has given the issuer rating of Double B Minus, denoting a moderate risk of default regarding timely servicing of financial obligations.