Kalinchok Hydropower Limited has extended the application deadline for its IPO issued to project-affected local residents until Chaitra 12.
Kalinchok Hydropower Limited has extended the deadline for applications to its Initial Public Offering (IPO) issued for project-affected local residents. According to the issue and sales manager, RBB Merchant Banking, eligible locals can now apply for the IPO until Chaitra 12. However, the company has stated that if the issue receives oversubscription before the deadline, the offering may be closed earlier with a public notice.
The company had opened the IPO in the first phase on Falgun 13 for project-affected local residents and Nepalis working in foreign employment. The portion reserved for Nepalis working abroad had already closed on Falgun 17.
Kalinchok Hydropower has received approval to issue 1,375,000 shares worth Rs 13 crore 75 lakh, representing 25 percent of its issued capital of Rs 55 crore. Out of this total, 550,000 shares worth Rs 5 crore 50 lakh have been allocated specifically for local residents of project-affected areas.
Only residents of Bigu Rural Municipality Ward No. 8 of Dolakha district and Kalinchok Rural Municipality Wards No. 1 and 2 are eligible to apply for this portion of the IPO. Eligible applicants can apply for a minimum of 10 shares and a maximum of 10,000 shares.
Local residents can submit applications through RBB Merchant Banking, the Kalinchok Hydropower office in Bigu Rural Municipality–8, as well as through the Singati branch of Nepal Bank, Sindhu Bikash Bank, and Nepal Investment Bank.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
