IPO Proposal of Kalinchowk Darsan Finally Approved by SEBON

Fri, Nov 18, 2022 12:53 PM on Latest, IPO/FPO News,

The Securities Exchange Board of Nepal (SEBON) has approved the proposed IPO issue of Kalinchowk Darsan Limited (KDL) on Kartik 23.

The hydropower company is looking to raise a capital worth Rs 60 Crore through the issue of 6,000,000 units of shares at par value of Rs. 100 per share. Out of total 60,00,000 unit shares; 12,00,000 unit shares will be issue to the general public. The promoter/public ratio will be 80 : 20 after IPO issuance.

Nabil Investment Banking limited has been appointed as the issue manager for the proposed IPO issuance.

Kalinchowk Darshan Limited (KDL) is a public limited company, incorporated on January 20, 2015. It is promoted by individual and institutional promoters from different backgrounds for setting up and operating a Cable Car Project at Kalinchowk, Dolakha, Nepal. The project includes about 1 Km long cable car journey, having a total of 4 Gondolas (2 gondolas per system) to transport passengers from the bottom station at Kuri Valley to the Kalinchowk Temple at the top. It has a capacity to transport 192 passengers per hour in one way trip.