SEBON approves to issue 6 lakh units IPO shares of Kalika Power Company for locals of project affected area

Securities Board of Nepal (SEBON) has approved the Initial Public Offering (IPO) of Kalika Power Company Limited for the project affected area. The hydropower company will now be issuing 6 lakh unit IPO shares to the general public of project affected area at Rs 100 per unit of worth Rs 6 crore. After that, it will be issuing 12 lakh unit IPO shares to the general public at Rs 100 per unit of worth Rs 12 crore. Kathmandu Capital Market Limited and Global IME Capital Limited have been assigned as the issue manager. ICRA Nepal has granted Grade 4 rating for the IPO indicating below average fundamentals. Kalika Power has been operating 6 MW Daraudi ‘A’ small hydropower located at Gorkha district.