SEBON Grants IPO Approval to Two Hydropower Companies

The Securities Board of Nepal (SEBON) has granted approval for the Initial Public Offering (IPO) to be issued by two hydropower companies, Kalanga Hydro Limited and Sanigad Hydro Limited. The approval was given on 25th Falgun 2079.As per SEBON’s approval, Kalanga Hydro Limited will issue 4.9 million shares worth NPR 49 crore. The company will offer the IPO at a price of NPR 100 per share. The sales manager for this IPO will be Sanima Capital Limited. Kalanga Hydro has been generating commercial production since Magh 2079 with a 15.33 MW Kalanga Hydroelectric Project in Bajhang district. The company’s chairman is Khageshwar Bohora, with other directors including Umesh Shrestha, Rajesh Kumar Shrestha, Shivprasad Ghimire, and Tirtharaj Chataut. The company secretary is Pradip Kumar Dahal.Similarly, Sanigad Hydro Limited has been approved to issue 8.55 million shares worth NPR 85.5 crore. The price per share will also be NPR 100. The sales manager for this IPO will be Laxmi Sunrise Capital Limited. Sanigad Hydro has also started commercial production from the 34.46 MW Upper Kalangagad Hydroelectric Project in Bajhang district since Falgun 2079. The company’s chairman is Umesh Shrestha, with other directors including Rajesh Kumar Shrestha, Khageshwar Bohora, Shivprasad Ghimire, and Tirtharaj Chataut. The company secretary is Pramod Acharya.Both companies will now complete the regulatory process and prepare to issue the IPO to the general public.