Kalanga Hydro Limited IPO Application Deadline Today

Kalanga Hydro Limited has opened the IPO for local residents of the affected areas from Chait 10, and today, Chait 24, is the last day to apply for the shares.The company has been authorized to issue 49 million shares, totaling 49 crores, which is 35% of its capital of NPR 140 crores. Out of this, 14 lakh shares, priced at NPR 100 per share, have been allocated for local residents of the affected areas.A total of 910,000 shares will be distributed to residents from Kedarsyun Village (wards 4 and 5), Bitthadchir Village (wards 6 and 8), Bungal Municipality (wards 3, 4, 6, 8, and 5) in Bajhang district, and residents from Dulasaini Village (wards 1 and 2) in Baitadi district, as well as residents of Shaileshikhar Municipality (ward 1) in Darchula district. The remaining 490,000 shares will be distributed to other wards in the affected regions of Bajhang, Baitadi, and Darchula districts.Applications for the IPO must be made for a minimum of 10 shares and a maximum of 20,000 shares.In the company's rating for the IPO, CARE Ratings Nepal has assigned a "CARENP Double B" issuer rating, indicating a moderate risk in the company's ability to meet its obligations.The Kalangagad Hydro Project, with a total capacity of 15.33 MW, was completed with an investment of NPR 4.33 billion. The project started generating electricity from Magh 27, 2079 (January 10, 2023).The share issue and sales manager for the IPO is Sanima Capital Limited. Local residents can apply for shares at various banks and offices designated for the application process.