Kalika Power's IPO issue closes today; Applications can be placed for minimum 50 units

Today is the last day to apply for the 12 lakh unit shares of Kalika Power Company Limited.

The hydropower company is issuing 12,00,000 unit shares at a par value of Rs 100 from Bhadra 28 till Ashoj 01 i.e today.

Out of the total 12 lakh units, 24,000 units are for the employees of the company and 60,000 units for the mutual funds. So, for the general public, the company is issuing 11,16,000 units.

Interested applicants can apply for a minimum of 50 units and for a maximum of 6,000 units. The IPO has already been oversubscribed by about 4.92 times as more than 84,900 applications have been recieved for more than 59 lakh units till the third day i.e yesterday.

Kathmandu Capital Market Limited and Global IME Capital have been appointed as the issue managers for the issue.

The applications can be placed through any financial institutions

ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.

Previously, the hydropower company had already issued 6 lakh unit shares for the locals of Gorkha district.

After the issuance of 12 lakh unit shares, the paid-up capital of the company will reach Rs 60 crore.

Kalika Power has been operating a 6 MW Dorodi A Hydropower Project in Gorkha District.