IPO Proposal of Kalinchowk Darsan Finally Approved by SEBON

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.