Him Star Urja Company Opening IPO Shares to Locals of Okhaldhunga and Solukhumbhu District And Nepalese Employed Abroad From Today

The IPO of Him Star Urja Company Limited opens today, 30th Jestha 2082, for project-affected locals of Okhaldhunga and Solukhumbhu districts, as well as for Nepalese citizens working abroad.

Him Star Urja Company Limited is issuing 1,86,500 units of IPO shares to the project-affected locals of Okhaldhunga and Solukhumbhu districts and 93,250 units of IPO shares to Nepalese citizens working abroad. The IPO will remain open from 30th Jestha to 13th Ashadh, 2082.

For the locals, if the issue is not fully subscribed within the initial period, the deadline may be extended till Ashadh 29. However, for Nepalese citizens working abroad, the IPO issue will close on 13th Ashadh without any extension.

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The issued capital of the company is Rs. 37.30 Crores. Of this, 30%, i.e., 11,19,000 unit shares, will be issued to the public. Out of the total public issue, 5%, which amounts to 1,86,500 unit shares worth Rs. 1.86 Crores, will be allocated to project-affected locals of Okhaldhunga and Solukhumbhu districts. The remaining 25% of the issued capital, i.e., 9,32,500 unit shares, will be offered to the general public at a later date. Of this general public issue, 10%, a total of 93,250 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open from today.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units. For the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, and the maximum quantity is 10,000 units.

NIC Asia Capital Limited has been appointed as the issue manager for the IPO issuance.

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.