Kalinchowk Hydropower Limited (KHL) was established on May 19, 2016, as a private limited entity and transitioned into a public limited company on June 15, 2022. The organization is working on a 5 MW Run-of-River Sangu (Sorun) Khola Hydroelectric Project (SKHP) situated in Dolakha District, Bagmati Province, Nepal, following the BOOT (Build, Own, Operate, and Transfer) framework. There is a Power Purchase Agreement (PPA) in place with the Nepal Electricity Authority (NEA), and the project is being funded through a 70:30 debt-to-equity ratio, with a total projected cost of around NPR 1,030 million. The company’s current paid-up capital is NPR 550 million after the IPO, with RBB Merchant Banking Limited acting as the Issue Manager for the public offering sanctioned by SEBON.
Regarding the Issuance and Rating:
Kalinchowk Hydropower Limited is offering 1,375,000 common shares at a par value of Rs. 100, which constitutes 25% of the entire paid-up capital of Rs. 55 Crores. The issuance is organized in two stages: the first aimed at locals impacted by the project in Dolakha District and Nepalis working abroad, and the second open to the general populace. The organization has received a CARE-NP BB issuer rating from CARE Ratings Nepal Limited, signaling a moderate risk of default concerning timely financial obligations, valid until July 6, 2026.
