Swet Ganga Hydropower & Construction Limited To Issue IPO. (Updated)

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Swet Ganga Hydropower and Construction Limited is going to the public with IPO. It was first established as a private limited company in 2005 and became a public limited company in October 2016. The SWET is promoted by private and public investors from different backgrounds, including Sanima Hydro group and other institutes including banks and investment companies.

The company has appointed Sanima Capital Limited as the IPO issuer and sales manager.

It is important to note that Dolma Impact Fund has a 30% stake in the company.

Dolma Impact Fund Team at Swet Ganga Hydropower ( Source: Dolma Impact Fund’s official Website. ).

The company will have total paid-up capital of 1.59 Arab, post allotment of the IPO shares. A total of 15% shares of the issued capital will be allotted to the general public. The company has already issued 15,93,000 unit shares to the project-affected locals of Ramechhapp and Okhaldhunga Districts from 23rd Jestha to Ashad 06, 2079, which is 10% of the company’s issued capital.

According to their official Website: www.swetgangahydropower.com The Promoter shareholders of Swet Ganga Hydropower & Construction Limited are as below

  • Sanima Hydropower Limited
  • Sanima Hydro And Engineering Pvt. Ltd
  • Sanima Mai Hydropower Limited
  • Dolma Impact Fund I
  • NRN Infrastructure And Development Ltd
  • Sanima Bank Limited
  • Jaya Ganesh Investments Pvt. Ltd
  • Obsor Investment Company Limited
  • Shanti Niraula
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It is important to note that the same group owns the following companies:- 

Sanima Hydropower Ltd
Sanima Hydro & Engineering (p) Ltd
Sanima Middle Tamor Hydropower Ltd
Sanima Mai Hydropower Ltd
Sanima Jum Hydropower Ltd
Mathillo Mailun Khola Jalvidhyut Ltd

What Swet Ganga Hydropower is Doing ?

The company is going to issue IPO to invest in the 28.1 MW Likhu Hydropower Project with the capacity of the Likhu River flowing through the border of Likhu Tamakoshi Municipality of Ramechhap District and Likhu Municipality of Okhaldhunga District. The annual energy generation is projected to be 170.84 GWh, where the dry season energy contributes 30.94 GWh and wet season energy contributes 139.89 GWh. The electricity generated from this project will connect to the national transmission system through the proposed 132 KV, New Khimti substation of the Nepal Electricity Authority.

How Many Shares of Swet Ganga Hydropower & Construction Limited will be issued to the Public?

Swet Ganga Hydropower & Construction Limited (SWET) will be issuing 23,89,500 units of shares with a face value of Rs 100 which would be a totally worth Rs. 23.89 crores to the general public. Public can apply IPO with their Meroshare Account. 

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When is Swet Ganga Hydropower & Construction IPO offering to the general public?

Initial Public Offering is starting on 4th Shrawan, 2079 and will be closed by 8th Shrawan, If the issue is not fully subscribed it can be extended up to Shrawan 18, 2079. Applications can be placed for a minimum of 10 units and a maximum of 10,000 units.

 

What Is The CARE Ratings of Swet Ganga Hydropower?

The Care Rating Nepal Limited (CRNL) has assigned a creditworthiness rating of ‘CARE-NP BB (IS)’ to Swet Ganga Hydropower. An issuer with this rating is considered to have a moderate risk of defaulting on its financial obligations.

If you would like to know more about this company, visit the official website at www.swetgangahydropower.com


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