Last Day to Apply for Locals IPO of Three Star Hydropower; Issue Closing Today

Tue, May 23, 2023 8:59 AM on Latest, IPO/FPO News,

Three Star Hydropower Limited is closing the issue of its IPO for project-affected locals today i.e. on 9th Jestha, 2080. The issue had opened on 11th Baisakh.

The issued capital of the company is Rs. 49.25 Crores of which 10% i.e. 492,500 unit shares worth Rs. 4.92 crores have been allocated to project-affected locals of Khotang District. Meanwhile, 15% of the company's issued capital i.e. 738,750 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 73,875 units shares have been allocated for Nepalese citizens working abroad, the issue of which closed on 25th Baisakh, 2080.

For the project-affected locals, the minimum application quantity is 10 units while the maximum quantity is 492,500 units.

Himalayan Capital Limited is appointed as the issue manager. The promoter-public share ratio will be 75: 25 after this IPO.

ICRA Nepal has assigned an issuer rating o of Three Star Hydropower Limited to [ICRANP-IR] B- (pronounced ICRA NP issuer rating B minus). Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.

Three Star Hydropower Limited is a public company with its site located in Province 1, Haleshi Tuwachung Municipality, Khotang. This hydropower project was established back in 2072 BS. With a total capacity of 7.151 MW, this hydro project received Survey License on 2073.07.09 BS and Generation License on 2074.09.03 BS. Kumar Kharel, Mohan Karki, and Madhav Mainali; the three founders named the company after them and then - named Three Star Hydro. These three were later joined by Uddhav Raj Shivakotee 'Kangal', Pradeep K Agrawal, Ananda P Manandhar, Zen Lama, and Ratna Bdr Newar.


Closing Notice