Kalinchok Hydro IPO Opens

Kalinchok Hydropower Limited has opened its IPO from today (Falgun 13) for project-affected locals and Nepalis working abroad.

The company will issue 1.375 million shares worth NPR 137.5 million, which is 25 percent of its issued capital. Out of this, 550,000 shares are reserved for local residents, while 82,500 shares are allocated for overseas Nepalis.

Investors can apply for a minimum of 10 shares and a maximum of 10,000 shares. The application period for locals runs until Chaitra 13, while overseas applicants can apply until Falgun 27.

CARE Ratings Nepal has assigned the company a ‘CARE-NP BB’ rating. The company operates a 5 MW hydropower project with a total cost of NPR 1.2 billion.

RBB Merchant Banking Limited is the issue manager. Applications can be submitted through C-ASBA and the ‘Mero Share’ system of CDS and Clearing Limited.