SEBON Adds IPO Shares of Him River Power Limited And Pure Energy Limited In Its Pipeline

The IPO proposal of Him River Power Ltd. is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 1,330,000 shares. This will raise Rs. 13.30 crores for the company. The application was submitted on Magh 28, 2080.

Siddhartha Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Him River Power Limited (HRPL). Issuers with this rating are considered to offer moderate risk of default regarding timely servicing of financial obligations, in Nepal.

Him River Power Limited (HRPL) was established on December 15, 2010. The primary objective of HRPL is to develop the 16.26 MW run-of-river Liping Khola Hydropower Project (LKHP) situated in the Sindhupalchowk district of Nepal. The project follows the BOOT model (Build, Own, Operate, and Transfer) for its construction and operation.

Similarly, The IPO proposal of Pure Energy Ltd. is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 1,600,000 shares. This will raise Rs. 16.00 crores for the company. The application was submitted on Magh 29, 2080.

Nabil Investment Banking Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB+ (Is)’ to Pure Energy Limited (PEL). Issuers with this rating are considered to offer moderate risk of default regarding timely servicing of financial obligations, in Nepal. CRNL has also revised the rating assigned to long-term bank facilities of PEL to ‘CARE-NP BB+’ from ‘CARE-NP BB’.

Pure Energy Ltd (PEL) was established on June 19, 2018. It is backed by individual promoters associated with the Golyan group and REnergo Developers Pvt Ltd. The company's focus is on the establishment of a 20 MW grid-connected solar photovoltaic (PV) project in the Raniyapur Village Development Committee, located in the Banke district of Nepal. Both solar projects are currently in operation.