Long queues to collect or submit form of KhaniKhola IPO; investors disappointed with the service of Civil Capital

KhaniKhola Hydropower Company Limited has been issuing 9,31,429 unit shares worth Rs 9.31 crore as part of its initial public offering (IPO) from Jestha 16, 2073 at face value of Rs 100. The company has provided only two collection centers in Kathmandu valley for such huge amount of shares. The collection centers for Khanikhola Hydropower IPO are Civil Capital Limited which is situated at Kamaladi and the office of KhaniKhola Hydropower Company situated at Dhumbharahi, Kathmandu. Investors from Kathmandu, Lalitpur and Bhaktapur have to visit these two collection centers to collect and deposit the forms. Investors have to stand in long queue for hours in order to collect or submit the application forms. The lines to take the form starts from Kamaladi  Ganesh temple and ends at the fifth floor (office of civil capital) of Kathmandu Plaza. Green Development Bank Limited is also coming with an IPO issue of 4,50,000 unit shares worth Rs 4.50 crore from Jestha 23, 2072. The amount of shares to be floated by Green Development Bank are less than KhaniKhola Hydropower still they have many collection centers in Kathmandu. Nivaj Shakya, an investor says, “ The service provided by Civil Capital is very disappointing. They don’t have enough staff or space to provide quality service. In order to collect a form we have to stay in queue for the entire day.” Sabin Manandhar, an investor says, “ 95% of the total amount needed for the IPO comes from the investor of Kathmandu Valley. There is a huge charm towards an IPO in Kathmandu. Most of IPOs have 7-8 collection centers and even then all the collection centers are packed. It is surprising that sebon has agreed to have only two collection centre for this IPO issue.” Here are some of the complaints of investors that have been posted on social networking sites.