Kalanga Hydro Limited is set to issue its initial public offering (IPO) starting Chaitra 10. The IPO is targeted at local residents of the project-affected areas and Nepalis employed abroad.
The company has allocated 14 lakh shares at NPR 100 per share for local residents. Of these, 9,10,000 shares will be distributed among residents of the most affected areas, including Kedarsyu Rural Municipality (Wards 4 & 5), Bithadchir Rural Municipality (Wards 6 & 8), Bungel Municipality (Wards 3, 4, 5, 6, 8) in Bajhang; Dilasaini Rural Municipality (Wards 1 & 2) in Baitadi; and Shailya Shikhar Municipality (Ward 1) in Darchula. The remaining 4,90,000 shares will be allotted to other permanent residents of the affected areas not classified as highly affected.
Local residents can submit their applications from Chaitra 10 up to Chaitra 24, with the final date extended to 2083 Baisakh 9 if necessary. Applications can be obtained and submitted at the issue manager office, project site office, and the following banks: Nepal Investment Mega Bank (Kedarsyu-1 branch), Global IME Bank (Jayprithvi Municipality-10, Bajhang; Gokuleshwar, Shailyashwar-9, Darchula), Kumari Bank (Chhappispathibhara Rural Municipality, Bajhang; Dilasini Rural Municipality, Baitadi), and Agricultural Development Bank (Bungel Municipality-4, Bajhang). A fee of NPR 2 per application form applies.
For Nepalis working abroad, the company has reserved 3,50,000 shares at NPR 100 per share. Applicants must have a valid labor approval from the Government of Nepal. Applications for this group can be submitted for a minimum of 10 shares and a maximum of 20,000 shares, from Chaitra 10 to Chaitra 24. Overseas applicants can also apply online using the ‘Mero Share’ software.
Care Ratings Nepal has assigned the company a CareNP Double B issuer rating, indicating moderate risk in meeting obligations.
The IPO issue and sale management is handled by Sanima Capital Limited.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
