Upcoming IPO: Sahas Urja Limited

Sahas Urja Limited

Sahas Urja Limited is issuing an IPO. The IPO will be open for the public from 22^nd September to 26^th September 2021. The company is going to issue 70 Lakhs units of primary shares worth rupees 70 Crores. The issue will be managed by NIBL Ace Capital Limited.

Here are the Sahas Urja Limited IPO details

Company Name	Sahas Urja Limired
Sector	Hydropower
Total Units	70,00,000
Total Issue Amount	NRs. 70,00,00,000
Start Date	Asoj 6  /  September 22
End Date	Asoj 10  /  September 26
Care Rating	[CRANP-IR]BB+
Issue Manager	NIBL Ace Capital Limited

The company had previously issued 35 Lakhs units of primary shares to the locals affected by the project in Solukhumbu district.

With more than 30 Lakhs demat account holders in Nepal, even if half of them applied for 10 units each, the rough estimation leaves the allotment probability of Sahas Urja Limited IPO to about 45 percent.

Sahas Urja Limited Company Information

Sahas Urja Ltd.(SUL) established on Magh 2070 B.S as private limited company later converted to public limited company on Bhadra 2071 B.S., comprises of a group of veterans in the field of entrepreneurship having innovative ideas of modern enterprises with advanced development strategies and management concepts. Sahas Urja Ltd. commits to create superior value for all its shareholders and stakeholders and aimed to be among most admired and trusted company in the country. It has planned to contribute to the national economy through accelerated hydropower development.

Hydro Venture Pvt. Ltd. (HVPL), a limited liability company,was established with the main objective to develop, build and operate hydroelectric project in Nepal. The company from its very beginning was focusing on the development of the Solu Khola (Dudh Koshi) Hydroelectric Project. The company had completed Feasibility Study, Environmental Impact Assessmentand Connection Agreement, obtained Generation License from Department of Energy Development (DoED) and finally concluded a Power Purchase Agreement (PPA) with Nepal Electricity Authority on 25th February 2015. Regardless of the license of the Solu Khola (Dudh Koshi) Hydroelectric Project (SKDKHEP) under Hydro Venture Pvt. Ltd., (a 100% subsidiary of Sahas Urja Ltd) the project was being developed by the Sahas Urja Limited (SUL). At this point HVPL has been completely acquired by (SUL) with the endorsement from Company Registrar’s Office (Received on 12^th March 2017), licenses transferring process from HVPL to SUL was completed on 2074/1/29 B.S.