Kalika Power’s IPO to be allotted tomorrow; 1.116 lakh applicants to receive 10 units each  

The allotment of IPO of Kalika Power will be made on Ashoj 10, 2075 i.e tomorrow.

As per the information provided by the issue manager, the allotment will be made in the premises of Global IME Capital.

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 had issued 11,16,000 units.

1,18,956 applicants had applied for the public offering. Out of the total applicants only 1,11,600 applicants will receive the shares.

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

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.