Kalinchok Hydropower Limited has issued an IPO to provide shares to locals living in the project-affected area as well as Nepali workers abroad. The company has reserved 550,000 ordinary shares for residents of Bigu Municipality–8 and Kalinchok Rural Municipality–1 & 2 in Dolakha district. In addition, 82,500 shares have been allocated for Nepalis working overseas who hold valid labor permits. Applicants are allowed to apply for a minimum of 10 shares and a maximum of 10,000 shares.
The application period for local residents will open immediately and close at the earliest on Falgun 27 and at the latest on Chaitra 13, 2083 B.S. For Nepalis abroad, the earliest closing date is Falgun 17 and the latest is Falgun 27, 2083 B.S. CARE Ratings Nepal has assigned the company a ‘CARE NP Double B’ issuer rating, indicating an average risk in meeting its financial obligations.
The IPO is being managed by RBB Merchant Banking Limited. Local residents can submit their applications at the managing company’s office, the Kalinchok Hydropower office in Bigu Municipality–8, or at branches of Nepal Bank Limited, Sindhu Development Bank, and Nepal Investment Bank, Singati branch. A fee of NPR 2 is required to obtain the application form. Nepalis working abroad can apply through ASBA-authorized banks and financial institutions approved by the Nepal Securities Board using the C-ASBA system, or via CDS and Clearing Limited’s ‘Mero Share’ online platform.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
