Today is the Last Day to Apply for Kalanga Hydro Limited IPO. The stocks have been offered for applications since May 22.
A total of 2.87 million common shares worth Rs 287 million will be allotted by the hydropower company to the general public at a par value of Rs 100 per share. This application will run between a minimum of 10 units and a maximum of 2,000 units.
The company in the past had been sanctioned to allot 4.9 million shares worth Rs 490 million, accounting for 35 percent of its capital structure of Rs 1.40 billion. From the total number of shares, 1.4 million shares were allotted to the people belonging to the area where the project was located, and 350,000 shares to Nepalese citizens residing outside the country.
Kalanga Hydro Limited has been given a rating of ‘CareNP Double B Issuer Rating’ by Care Ratings Nepal.
The Kalangagad Hydropower Project run by the company has an installed capacity of 15.33 MW. The total cost incurred in the project is Rs. 4.33 billion which means the cost per MW is Rs. 283.62 million. The project was running on commercial basis from February 10, 2023.
The issue manager chosen by the company for this IPO is Sanima Capital Limited.
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