Three Star Hydropower Limited (TSHL) has announced its plan to issue right shares in a 1:1 ratio, or 100% right shares, as per the decision made at the Board of Directors meeting held on Kartik 5, 2081. The company will issue 49,25,000 right shares based on its current paid-up capital of Rs. 49.25 Crore, which will double the capital to Rs. 98.5 Crore after the issuance.
The funds raised from this will be used to repay Rs. 34.25 Crore of bank loans and other liabilities related to the project construction, while Rs. 15 Crore will be invested as equity in the 9 MW Upper Burundi A Hydroelectric Project, which is under construction.
However, this issuance is subject to approvals from the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON).
About Three Star Hydropower Limited (TSHL)
Three Star Hydropower is a public company situated in Haleshi Tuwachung Municipality, Khotang, within Province 1. The hydropower project was founded in 2072 BS and has a total capacity of 7.151 MW. It obtained its Survey License on 2073.07.09 BS and its Generation License on 2074.09.03 BS. The company was established by three founders—Kumar Kharel, Mohan Karki, and Madhav Mainali—who named it after themselves, resulting in the name Three Star Hydro. Subsequently, they were joined by Uddhav Raj Shivakotee ‘Kangal’, Pradeep K. Agrawal, Ananda P. Manandhar, Jen Lama, and Ratna Bdr Newar.
