Three Star Hydropower IPO Closing For Nepalese Working Abroad From Today | The locals’ deadline has extende to Jestha 9
From today, or 25th Baisakh, 2080, Three Star Hydropower Ltd will no longer accept IPO applications from Nepalese nationals who are employe overseas.
The company has extended the IPO application deadline for residents impacted by the project until 9th Jestha. On the 11th of Baisakh in 2080, the issue had start.
10% of the company’s issued capital, or 492,500 unit shares worth 4.92 crores rupees, have give to Khotang District residents who would impact by the project.
Meanwhile, 738,750 unit shares, representing 15% of the company’s issued capital, will make available to the general public later. 10% of the shares, or 73,875 units, of this public offering have designate for Nepalese nationals working overseas. The offering will end today.
The lowest application quantity for the project’s localities is 10 units, while the maximum application quantity is 492,500 units. The minimum & maximum application quantities for Nepalese Employees working abroad are 10 and 73,875 Units.
As the issue manager, Himalayan Capital Limited is select. After this IPO, the promoter-public share ratio will 75:25.
For a total of 512,280 units, 20,646 applications have receive through Nepalese nationals working overseas, according to CDSC. As a result, there have already 6.93 times more subscriptions than there are available copies.
ICRA Nepal has given [ICRANP-IR] an issuer rating of B- (pronounced “ICRA NP issuer rating B minus”) for Three Star Hydropower Limited.
When it comes to the prompt service of financial commitments. Issuers with this grade are thought to at a high risk of default.
A publicly traded corporation, Three Star Hydropower Limited is base in Province 1, Haleshi Tuwachung Municipality, Khotang. This hydroelectric facility was built in 2072 BC. This hydro project, which has a total installed capacity of 7.151 MW, was granted a survey license on 2073.07.09 BS and a generation license on 2074.09.03 BS. The firm was once call Three Star Hydro and was founded by Kumar Kharel, Mohan Karki, and Madhav Mainali. Later, Uddhav Raj Shivakotee ‘Kangal’, Pradeep K. Agrawal, Ananda P. Manandhar, Zen Lama, and Ratna B. Newar joined these three.