Sanvi Energy Ltd has opened its IPO to the general public starting today. After allocating shares to project-affected individuals and those working abroad, the company has now opened the second phase of the IPO for the general public.

The company has opened applications for 2.415 million shares worth Rs 241.53 million at a face value of Rs 100 per share. Investors can apply for a minimum of 10 shares and up to a maximum of 20,000 shares starting from Friday.

According to the Issue Manager, the IPO will remain open until May 27. Previously, the company had issued shares to locals from project-affected areas in Ilam Municipality, Maijogmai Rural Municipality, and Suryodaya Municipality of Ilam district.

The company has already allocated 880,000 shares worth Rs 88 million to individuals affected by the project and 291,000 shares worth Rs 29.1 million to Nepali citizens working abroad.

The company received approval from the Securities Board of Nepal (SEBON) to issue shares worth Rs 379 million to the general public, which is 33.07 percent of its Rs 880 million issued capital.

The Nepal SBI Merchant Banking Limited is the issue and sales manager for the IPO.

As of the end of Poush (mid-January) in the current Fiscal Year (FY), Sanvi Energy reported a retained profit of Rs 121.26 million, according to financial statements submitted to tSEBON. By the end of Poush, the company’s earnings per share (EPS) stood at Rs 3.81, while its net worth per share was Rs 124.20.