Him Star Urja Company IPO Allotment Concludes: Lucky 77,397 Applicants Allotted 10 Units Each via Lottery System

Him Star Urja Company Limited's IPO allotment was concluded today at the premises of the issue manager, NIC Asia Capital Limited, Trade Tower, Thapathali, Kathmandu.

Him Star Urja Company Limited had issued 773,975 units worth Rs 7.73 crores as an Initial Public Offering (IPO) to the general public (24th Ashadh- 27th Ashadh, 2082).

The company's issued capital stands at Rs. 37.30 Crores. Of this, 30%, equivalent to 11,19,000 unit shares, was allocated for public issuance. From this public portion, 5% (i.e., 1,86,500 unit shares worth Rs. 1.86 Crores) were set aside for project-affected locals from Okhaldhunga and Solukhumbu districts. The remaining 25%, or 9,32,500 unit shares, were designated for the general public. Out of these, 10% (93,250 unit shares) were specifically allocated to Nepali citizens working abroad, while the remaining 7,73,975 shares were offered to the general public within the country.

The issue received a total of 1,900,289 applications for 21,295,730 units, resulting in an oversubscription of more than 27.51 times. Meanwhile, 4,913 applications were invalid.

As per the allotment module, a total of 77,397 applicants were allotted 10 units each via lottery and, 5 applicants received 1 unit each.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result,  MeroShare, and NIC Asia Capital Limited.

ICRA Nepal has upgraded the issuer rating of Him Star Urja Company Limited (HUCL) from B+ to BB-, indicating a moderate risk of default in meeting financial obligations. Additionally, the company’s long-term rating was upgraded from LB+ to LBB-, while its short-term loan rating was reaffirmed at A4. These ratings reflect ICRA Nepal’s opinion on HUCL’s overall creditworthiness, not tied to any specific debt instrument.

Him Star Urja Company Limited, established as a private company in August 2010 and later converted to a public company in December 2017, is developing the 5MW Buku Kapati Khola hydropower project in Okhaldhunga and Solukhumbu districts of Koshi Province. The project, designed as a run-of-river (Ro-R) scheme with a Q40 design, was initially budgeted at NPR 1,023 million with a debt-to-equity ratio of 64:36. As of mid-January 2025, about NPR 1,091 million has been spent, marking around 95% physical progress. The company’s paid-up capital stands at approximately NPR 261 million, with key promoters including Mr. Dipak Tiwari (16.4%), Ms. Shobha Upreti (7.2%), and others.