SEBON Adds IPO Proposal of Hulas Infra Limited To Its Pipeline

Hulas Infra Limited submitted a proposal to the capital market regulator on Ashadh 24, 2082, seeking approval to issue 3,547,188 shares at a premium price of Rs. 333.56 per share.

The offering aims to raise Rs. 1.18 Arba from local and general investors. Nabil Investment Banking Limited has been appointed as the issue manager for this public offering.

Infomerics Credit Rating Nepal Limited has upgraded the long-term bank facility rating of NPR 1,668.02 million to IRN BBB- (Triple B Minus) and the short-term facility rating of NPR 1,462.00 million to IRN A3 (A Three). Additionally, it has assigned an issuer rating of IRN BBB- (Issuer), indicating a moderate degree of safety for the timely servicing of financial obligations.

Hulas Infra Limited (HIL), established as a private company in 2011 and converted to a limited company in July 2023, is a secondary steel producer engaged in manufacturing Pre-Engineered Buildings, shutter patti, hot rolled coils, and FG-Tubes. It has various production units with capacities totaling over 55,000 MTPA. Mr. Chandra Kumar Golchha holds an 80% majority stake, with the remaining shares held by Sharad, Bharat, and Abhigyan Golchha (6.65% each).