IPO Proposal of Kalinchock Hydropower And Appolo Hydropower Limited Approved by SEBON

The Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Kalinchock Hydropower Limited. The approval was issued on Magh 19, 2082.

According to the approved proposal, the company will issue a total of 13,75,000 shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

RBB Merchant Banking Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ for Kalinchock Hydropower Limited (KHL). This rating indicates that the issuer carries a moderate level of default risk in meeting its financial obligations on time within Nepal.

Kalinchock Hydropower Limited (KHL), incorporated on May 19, 2016, and later converted into a public limited company on June 15, 2022, is developing a 5 MW run-of-river Sangu (Sorun) Khola Hydroelectric Project (SKHP) in Dolakha District, Nepal. The project is being executed under the BOOT (Build, Own, Operate, and Transfer) model.

Similarly, the Securities Board of Nepal (SEBON) has granted the Initial Public Offering (IPO) proposal of Appolo Hydropower Limited. The approval was issued on Magh 20, 2082.

According to the approved proposal, the company will issue a total of 14,10,000 shares to the general public. The shares will be offered at a par value of Rs. 100 per unit.

Himalayan Capital Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has reaffirmed Appolo Hydropower Limited’s (AHL) issuer rating at ‘CARE-NP BB- (Is)’ and its long-term bank facilities rating at ‘CARE-NP BB-’, indicating a moderate risk of default in meeting financial obligations in Nepal.

Apolo Hydropower Limited (AHL), initially incorporated as a private limited company, was converted into a public limited company on September 22, 2022. The company is developing a 6 MW run-of-the-river project in Okhaldhunga District, Nepal, under the BOOT (Build, Own, Operate, and Transfer) framework.