IPO Proposal of Three Star Hydropower Limited Finally Approved by SEBON; Company to Issue IPO Worth Rs 12.31 Crore Soon

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Three Star Hydropower Limited on Chaitra 17.

The company will now issue 1,231,250 equity shares at a par value of NPR 100 each. The amount of the issue is Rs. 12.31 Crore. This is 25% of the company's issued capital. The total paid-up capital after the IPO allotment would be Rs 49.25 Crores of the company. 

Himalayan Capital Limited has been appointed as the issue manager for the proposed IPO issuance.

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 7.151 MW, this hydro project had 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 - naming Three Star Hydro. These three were joined later by Uddhav Raj Shivakotee 'Kangal', Pradeep K Agrawal, Ananda P Manandhar, Jen Lama and Ratna Bdr Newar later.