Him Star Urja Company Limited has officially launched its Initial Public Offering (IPO) for the general populace starting today, 24th Ashad, 2082. The company is offering a total of 7,73,975 unit shares at a nominal value of Rs. 100 per unit. The early closing date for the IPO is 27th Ashad, 2082, but if the issue is not completely subscribed by that time, the deadline will be extended until 6th Shrawan, 2082.
The issued capital of the company is Rs. 37.30 Crores. Of this, 30%, equating to 11,19,000 unit shares, are being made available to the public. From the total public offering, 5%, which translates to 1,86,500 unit shares valued at Rs. 1.86 Crores, has already been allocated to project-affected residents of Okhaldhunga and Solukhumbu districts.
The remaining 25% of the issued capital, amounting to 9,32,500 unit shares, will now be offered to the general populace, of which 10%, totaling 93,250 unit shares, have been allocated to Nepalese citizens residing abroad. The rest, 7,73,975 units, will now be distributed to the general public.
NIC Asia Capital has been assigned as the issue manager for the IPO launch. Applications could be submitted for a minimum of 10 units and a maximum of 10,000 units.
ICRA Nepal has elevated the issuer rating of Him Star Urja Company Limited (HUCL) from B+ to BB-, signifying a moderate risk of default in fulfilling financial commitments. Furthermore, the company’s long-term rating was enhanced from LB+ to LBB-, while its short-term loan rating was reaffirmed at A4. These ratings represent ICRA Nepal’s assessment of HUCL’s overall creditworthiness, not associated with any particular debt instrument.
Him Star Urja Company Limited, founded as a private entity in August 2010 and later transformed into a public company in December 2017, is advancing the 5MW Buku Kapati Khola hydropower project in Okhaldhunga and Solukhumbu districts of Koshi Province. The project, structured as a run-of-river (Ro-R) scheme with a Q40 design, was initially estimated at NPR 1,023 million with a debt-to-equity ratio of 64:36. As of mid-January 2025, approximately NPR 1,091 million has been invested, reflecting around 95% physical completion. The company’s paid-up capital is around NPR 261 million, with key promoters including Mr. Dipak Tiwari (16.4%), Ms. Shobha Upreti (7.2%), and others.
