KhaniKhola Hydropower IPO for locals collects Rs 9.64 crore from 2,554 applicants; Oversubscribed by 2 times

KhaniKhola Hydropower Company Limited had floated 4,65,714 unit shares as part of its initial public offering (IPO) at face value of Rs 100 for the locals of Lalitpur district (Bhatedada, Ikudol and Sankhu VDC project affected area) from Mangsir 9, 2072 to till Mangsir 28, 2072.

Kamal Khatri, Assistant Manager of Civil Capital Limited said, “The total collection of the IPO reached Rs 9 crore 64 lakh (Oversubscribed by 2.07 times). Around 2,554 application forms were received.”

Civil Capital Markets Limited had been assigned as the issue manager for the IPO issue.

The authorized and issued capital of company is Rs 46.57 crore and Rs 50 crore respectively. The Paid up capital of the company remains at Rs 32.60 crore. After the IPO for the locals of project affected area, the paid up will reach Rs 37.25 crore.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) of Khanikhola Hydropower Company.

After the IPO for the locals of project affected area, the company will be floating 9, 31,429 units shares as a part of IPO for the general public.