Three Star Hydropower IPO has been published to the general public today. Three Star Hydropower company limited issued a total of 613162 units of shares on June 20, 2023.
Three Star Hydropower issued 613,162 unit shares of Rs 100 face value from Ashad 5, 2080. The company aims to collect Rs 6.13 crore from this IPO. Investors can apply on this IPO till Ashad 8, 2080.
Out of the total 738,750 units; a total of 73,875 units have already been issued and allotted to Nepalese citizens working abroad. Out of the issued shares, a total of 36,938 units have been reserved for mutual funds and 14,775 units have been reserved for the employees of the company. The remaining 613,162 units are issued to the general public.
Three Star Hydropower IPO
Three Star Hydropower IPO: The company had already issued 492,500 unit shares worth Rs. 4.92 crores to the project-affected locals of Khotang District. Overall, the promoter shareholders have 75% shares in the company.
Himalayan Capital Limited is the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 50,000 units in this IPO.
ICRA Nepal gives the rating of Three Star Hydropower Limited to [ICRANP-IR] B- (pronounced ICRA NP issuer rating B minus). This rating has been considered to have a high risk of default regarding the timely servicing of financial obligations in Nepal.
Three Star Hydropower is a public company with its site located at Province 1, Haleshi Tuwachung Municipality, Khotang. This hydropower project was established back in 2072 BS. With the total capacity of 6.6 MW, this hydro project had received Survey License on 2073.07.09 BS and Generation License on 2074.09.03 BS.
Initially- Kumar Kharel, Mohan Karki and Madhav Mainali; the three founders named the company after them and then – naming Three Star Hydro.
At Present company structure – new members have joined this company Uddhav Raj Shivakotee ‘Kangal’, Ananda P Manandhar, Jen Lama, Ang Tsering Lama (Sherpa), Ang Nima Sherp and Pemba Chhiring Lama- making it total seven persons in a Board. The former two founders Mohan Karki and Madhav Mainali moved into the new advisory role.
The team of Three Star Hydro has successfully completed Kutheli Bukhari Hydro Power Project of 998 KW, located at Suspa Chemawatti, Dolakha that has already into operation in since 2072 BS.
This Project construction period has been allocated for three years
