Shiva Shree Hydropower opens at Rs. 120; Hits 10% positive circuit on the first trading day

Shiva Shree Hydropower Limited (SSHL)'s shares have traded from today, i.e. Kartik 13. The shares were tradable from yesterday, i.e. Kartik 12 but the opening price could not be agreed upon by a transaction between a buyer and seller in the special pre-open session.

The range for the first transaction was set from Rs. 100 to Rs. 300. Today, the shares opened at Rs. 120 per share. As of writing, the shares of SSHL have the Last Trading Price (LTP) of Rs. 132. Thus, the shares of Shiva Shree Hydropower Limited have hit a 10% positive circuit on the first trading day.

The shares of Shiva Shree Hydropower Limited (SSHL) were finally listed on NEPSE after almost a year of IPO allotment due to disputes with the underwriters. Muktinath Capital Limited (former Vibor Capital) and CBIL Capital were appointed as the underwriters to this issue. However, the underwriters refused to purchase the unsubscribed shares, citing that no information was provided by the hydropower company regarding the losses incurred due to the floods in the month of Asadh, which violates the Civil Code, 2074.