Samling Power Company IPO for Locals from Today

Samling Power Company IPO

Samling Power Company has issued IPO from today (Friday). Samling Power Company IPO

The company is going to issue 500,000 ordinary shares of Rs 100 per share for the residents of the project-affected areas. 

The closing date of IPO issuance is early till Aswin 1 and the sale will be delayed till Aswin 17. Applications can be submitted from the Ilam branch offices of Nepal SBI Bank, NMB Bank, Siddhartha Bank, Civil Bank, and Laxmi Bank. 

Applicants will be able to apply for a minimum of 10 lots and a maximum of 20,000 lots.

Samling Power Company IPO

Samling Power Company IPO | Company Overview

Mai Beni Hydropower Plant is a Run-of-River type hydropower project with an installed capacity of 9.51 MW. It is located in the middle run of the Mai River in the Ilam district of eastern Nepal.

The project is Urja Developers Pvt. Ltd.’s pilot project, which began building in May 2018. The project’s components are located between 490 and 645 meters above sea level.

The Mechi highway is only 5 kilometers away from all of the project’s primary components. The installation of overall Hydromechanical components and Electromechanical equipment, as well as the building of all project components, has been completed.

Similarly, the entire project components’ testing and commissioning have been completed. The power plant’s trial operation is scheduled to begin in September 2021.

Milestone Timeline

  • In December 2018, the financial closure was completed with Nepal SBI Bank Ltd. as the lead bank and Siddhartha Bank Ltd. as a member bank.
  • All infrastructure required for the project has been constructed and upgraded.
  • The Diversion Weir, Undersluice, Intake, Gravel Trap, Approach Canal, Settling Basin, Headrace pipe, Headrace Tunnel, Surge pipe, Penstock pipe, Powerhouse, Switchyard, Tailrace, and River Protection works have all been completed.
  • All hydromechanical components and electromechanical equipment have been installed, tested, and commissioned.
  • The transmission line’s construction, as well as its testing and commissioning, has been completed.
  • The permanent camp for the Project Operation Crew’s lodging has been finished, and the appropriate team has mobilized to the site.
  • Landscaping works in the Powerhouse and Permanent Camp area are in progress.