Kalanga Hydro Limited’s IPO allotment was concluded today at the premises of the issue manager, Sanima Capital Limited, Naxal, Kathmandu.
The company had issued 28,70,000 units as an Initial Public Offering (IPO) to the general public from (8th Jestha, 2083 to 13th Jestha, 2083).
The issued capital of the company is Rs. 1.40 Arba. Of this, 35%, i.e., 49,00,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, amounting to 14 lakh unit shares worth Rs. 14 Crores, were allotted to project-affected locals in Bajhang District. The remaining 25% of the issued capital, i.e., 35 lakh unit shares, will be offered to the general public. Of this general public issue, 10% of 35,00,000 units, a total of 3,50,000 units, were allotted to Nepalese citizens working abroad.
Of the general public issue, 3%, i.e., 1,05,000 units, have been set aside for the company’s employees, and 5% of the total offered shares, i.e., 1,75,000 units, have been reserved for mutual funds. The remaining 28,70,000 units were issued for the general public and allotment concluded today.
The issue received a total of 28,60,766 valid applications for 3,11,04,780 units.
As per the allotment results, 2,87,000 applicants were allotted 10 units each through a lottery system.
Allotment Module:
The IPO result can be accessed by CDSC IPO Result, MeroShare, and Sanima Capital Limited.
CARE Ratings Nepal Limited (CRNL) has revised the issuer rating assigned to Kalanga Hydro Limited (KHL) to ‘CARE-NP BB (Is)’ from ‘CARE-NP BB- (Is)’. Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations in Nepal.
Kalanga Hydro Limited (KHL) was initially incorporated as a private limited company on 20 December 2007 (converted to a public limited company on July 14, 2021) by a group of individual and institutional promoters for the setting up of a 15.33 MW, run-of-river, Kalanga Gad Hydroelectric Project in the Bajhang district of Nepal. The project is constructed under the BOOT mechanism.
