Kalinchowk Hydropower Limited's IPO; Deadline Extended for Project Affected Locals Till Chaitra 12

Kalinchowk Hydropower Limited has extended the issue of its IPO to the project-affected locals of Dolakha District until 12th Chaitra, 2082. The issue had opened on 13th Falgun, 2082.

The issued capital of the company is Rs. 55 crores. Of this, 25%, i.e., 13,75,000 unit shares, will be issued to the public. Out of the total issue capital, 10%, which amounts to 5,50,000 unit shares worth Rs. 5.50 Crores, will be allocated to project-affected locals of the Dolakha district. The remaining 15% of the issued capital, i.e., 8,25,000 unit shares, will be offered to the general public at a later date.

Regarding this general public issue, 10%, or a total of 82,500 unit shares, were allocated for the Nepalese citizens working abroad.

For the project-affected locals, the minimum application quantity to be applied is 10 units, while the maximum quantity is 10,000 units. And for the Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 4,000 units.

RBB Merchant Banking Limited has been appointed the issue manager for the public offering.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ for Kalinchock Hydropower Limited (KHL). This rating indicates that the issuer carries a moderate level of default risk in meeting its financial obligations on time within Nepal.

Kalinchock Hydropower Limited (KHL), incorporated on May 19, 2016, and later converted into a public limited company on June 15, 2022, is developing a 5 MW run-of-river Sangu (Sorun) Khola Hydroelectric Project (SKHP) in Dolakha District, Nepal. The project is being executed under the BOOT (Build, Own, Operate, and Transfer) model.