Kalinchowk Darshan Limited IPO Collects Rs. 92.36 Crores Till Second Day; IPO Oversubscribed by 10.30 Times

Wed, Jan 18, 2023 5:11 PM on Latest, IPO/FPO News,

CDS & Clearing Limited (CDSC) has reported the data of public IPO collection of Kalinchowk Darshan Limited (KDL) as of 4 pm today i.e Magh 04.

Kalinchowk Darshan Limited has been issuing its 896,400 unit IPO shares to the general public from today i.e. Magh 03 and will conclude on 6th Magh, 2079. If it is not fully subscribed the issue will be extended up till 17th Magh, 2079. Out of the total 10,80,000 units; 10% i.e. 108,000 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 21,600 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 54,000 units have been set aside for the mutual funds. The remaining 896,400 units are for the general public. The company intends to collect Rs 8.96 crore from this IPO.

Nabil Investment Banking Limited is appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 4,990 units.

According to CDSC, 784,632 applicants have applied for a total of 9,236,950 units. Thus, the issue is already oversubscribed by 10.30 times so far.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB+(Is)’ to Kalinchowk Darshan Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.