Kalinchowk Hydropower Limited has prolonged the issuance of its IPO to the residents impacted by the project in Dolakha District until the 12th of Chaitra, 2082. The offering initially commenced on the 13th of Falgun, 2082.
The company’s issued capital stands at Rs. 55 crores. Out of this amount, 25%, or 13,75,000 unit shares, will be released to the public. Among the total issue capital, 10%, equating to 5,50,000 unit shares valued at Rs. 5.50 Crores, will be distributed to the project-affected locals within Dolakha District. The remaining 15% of the issued capital, which corresponds to 8,25,000 unit shares, will be presented to the general public at a forthcoming date.
In relation to this general public offering, 10%, translating to 82,500 unit shares, have been earmarked for Nepali citizens residing abroad.
For project-affected locals, the minimum number of units that can be applied for is 10, while the maximum is set at 10,000 units. Likewise, for Nepali citizens abroad, the minimum application quantity is also 10 units, with a cap of 4,000 units.
RBB Merchant Banking Limited has been designated as the issue manager for this public offering.
CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of ‘CARE-NP BB (Is)’ for Kalinchok Hydropower Limited (KHL). This rating signifies that the issuer possesses a moderate degree of default risk in fulfilling its financial responsibilities punctually within Nepal.
Incorporated on May 19, 2016, and subsequently transformed into a public limited company on June 15, 2022, Kalinchok Hydropower Limited (KHL) is working on 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.
