Synergy Power listed in SEBON IPO pipeline; to issue 21 lakh unit IPO shares

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    Synergy Power Development Limited has been added in the Securities Board of Nepal (SEBON)’s Initial Public Offering (IPO) pipeline.

    The hydropower will be floating 21 lakh units IPO shares worth Rs 21 crore to general public which have been listed in the IPO pipeline of the Security Board.

    Sanima Capital Limited has been appointed as the issue manager for the IPO.

    Synergy Power is developing 10MW Sipring Khola Hydropower Project at Dolakha district.

    Synergy Power Development Limited had floated 7, 00,000 unit shares worth Rs 7 crore as part of its IPO shares for the locals of project affected people of Dolakha district (Gaurishankar, Khare, Lamabagar, Warang, Bulung and Laduk VDC project affected area).

    ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) of Synergy Power Company.

    Source : Share Sansar