Kalanga Hydro IPO Opens From Today, Priority Given to Local Residents and Nepalis Working Abroad

Kalanga Hydro Limited has opened its Initial Public Offering (IPO) from today (Chaitra 10). The company is issuing shares for the project-affected local residents as well as Nepalis working abroad. Out of the total issued capital of Rs. 1.40 billion, the company has received approval to issue 35 percent, which equals 4.9 million shares. In the first phase, 1.4 million shares have been allocated to local residents of the project-affected areas, including 910,000 shares for highly affected areas and 490,000 shares for other affected areas. In addition, 350,000 shares have been reserved for Nepalis working abroad. Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. The IPO for local residents will close at the earliest on Chaitra 24 and at the latest on Baisakh 9, 2083, while the issue for Nepalis working abroad will close at the earliest on Chaitra 15 and at the latest on Chaitra 24. The company’s 15.33 MW Kalangagad Hydropower Project has already been in commercial operation since January 27, 2023 (Magh 27, 2079 BS).