June 26, 2023 | Investopaper
Him Star Urja Company Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has submitted the application to board on Jestha 31, 2080 BS. Only after receiving the approval from the regulatory body, the company can float the shares to the public.
If approved by SEBON, the hydropower company is planning to float 11,19,000 unit shares to the general public. At a par value of Rs 100, the public issue amounts to Rs 11.19 crores.
The company has appointed NIC Asia Capital Limited as issue and sales manager. The agreement for public offering has already been signed between the company and NIC Asia Capital Limited in this regard.
In the first phase, the company will sell the shares to the locals of the project affected areas and to the Nepalis in foreign employment. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.
About Him Star Urja Company Limited
Him Star Urja Company Limited was incorporated on August 19, 2010 as a private limited company. Later, it was transformed to a public company on December 8, 2017 in order to issue shares to the general public.
The company is currently developing a 5 MW Buku Kapati Khola Hydropower Project at Okhaldhunga and Solukhumbu district.
The total estimated cost of the project is Rs. 1.02 billion which will be financed in the debt-equity ratio of 64:36.
The electricity generated from the project will be evacuated through NEA’s underconstruction Bamti substation in Ramechhap district.