Kathmandu. Him Star Urja Company Limited is going to issue an IPO from June 15. In the first phase, the company is going to issue ipo for the local residents of the project affected areas and Nepalis in foreign employment.
The company had received permission to issue 1.119 million units of shares worth Rs 111.9 million i.e. 30 percent of the issued capital of Rs 373 million.
Out of this, 186,500 units of ordinary shares worth Rs 18.65 million per share worth Rs 18.65 million will be issued for the local residents of the project-affected areas.
Okhaldhunga District, Khijidemba Rural Municipality Ward No. 8. All wards of the erstwhile Bhusinga VDC and Likhupike Rural Municipality ward no. 8 of Solukhumbu district. 2, the current bullet. Ward No. Local residents of 1, 2, 3, 4, 5 can apply.
Similarly, 93,250 units of ordinary shares worth Rs 9.325 million, representing 10 per cent of the shares allocated for general investors, will be issued for Nepalis working abroad after obtaining labour clearance from the concerned authorities of the Government of Nepal.
ICRA Nepal has given the company icra NP issuer rating double B minus in the rating for the IPO issue. This indicates that there is an average risk in the company’s ability to bear liabilities.
Applications can be made for a minimum of 10 units and a maximum of 10,000 units. For the local residents of the project-affected areas, the issue will be closed at the earliest on July 15 and the late one will be on July 15. Nepalis in foreign employment will have to apply by June 15.
NIC Asia Capital Limited is the issue manager of the company. Nepalis in foreign employment can apply through C-ASBA system from all C-ASBA member banks and financial institutions and their designated branch offices approved by the Securities Board of Nepal.
Local residents have been visiting Likhupike Branch of Citizens Bank International, Okhaldhunga District, Khijidemba Rural Municipality Ward No. Women’s Building and Public Health Building located at Ward No. 8 and Ward Office of Likhupike Rural Municipality-2 of Solukhumbu district can apply. Similarly, they can also apply by visiting the sales manager’s website. Residents of the project-affected areas will have to pay a fee of Rs 2 for the application form to get the share purchase application.
