IPO Allotment: Three Star Hydropower Allotted Shares To Nepalese Employed Abroad on 16th Jestha
Wed, May 31, 2023 10:54 AM on Latest, IPO/FPO News, Share Allotment,
Three Star Hydropower Limited has allotted IPO shares to Nepalese citizens working abroad. The allotment program concluded on 16th Jestha, 2080.
The issued capital of the company is Rs. 49.25 Crores of which 10% i.e. 492,500 unit shares worth Rs. 4.92 crores were allocated to project-affected locals of Khotang District. Meanwhile, 15% of the company's issued capital i.e. 738,750 unit shares will be issued later for the general public. Of this public issue, 10% of the shares totaling 73,875 units shares were allocated for Nepalese citizens working abroad from 11th Baisakh to 25th Baisakh.
As per the allotment notice, the company hereby informs that the issued units have been allotted to the 7,387 valid applicants with 10 units each on 16th Jestha, 2080.
Himalayan Capital Limited was appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 492,500 units.
Three Star Hydropower Limited is a public company with its site located in Province 1, Haleshi Tuwachung Municipality, Khotang. This hydropower project was established back in 2072 BS. With a total capacity of 7.151 MW, this hydro project received Survey License on 2073.07.09 BS and Generation License on 2074.09.03 BS. Kumar Kharel, Mohan Karki, and Madhav Mainali; the three founders named the company after them and then - named Three Star Hydro. These three were later joined by Uddhav Raj Shivakotee 'Kangal', Pradeep K Agrawal, Ananda P Manandhar, Zen Lama, and Ratna Bdr Newar.
