SEBON Adds 11.19 Lakhs IPO Shares of Him Star Urja Company In its Pipeline

The IPO proposal of Him Star Urja Company Limited is in SEBON's pipeline.

The company has submitted a proposal to the capital market regulator to issue a total of 1,119,000 shares. This will raise Rs. 11.19 crores for the company. The application was submitted on Jestha 31, 2080.

NIC Asia Capital has been appointed the issue manager for the public offering.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] B+ (pronounced ICRA NP issuer rating B plus) to Him Star Urja Company Limited. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations

Him Star Urja Company Limited was initially incorporated as a private limited company on August 19, 2010, and was later converted to a public limited company on December 8, 2017. The company is developing a 5-MW Buku Kapati Khola hydropower project in the Okhaldhunga and Solukhumbu districts in Province 1 of Nepal. The project is an R-o-R type and is being developed at a 40% probability of exceedance.