Kalinchowk Hydropower Extends IPO Deadline for Dolakha Project-Affected Locals Until Chaitra 12

Kalinchowk Hydropower Limited has extended the application deadline for its Initial Public Offering (IPO) that was issued for the project-affected locals of Dolakha District. The IPO, which originally opened on Falgun 13, 2082, will now remain open until Chaitra 12, 2082, giving eligible residents additional time to apply for shares.

The company has a total issued capital of Rs. 55 crore, out of which 25 percent (13,75,000 shares) will be distributed to the public. From this public offering portion, 10 percent of the issued capital, equivalent to 5,50,000 shares worth Rs. 5.50 crore, has been specifically allocated to the locals affected by the project in Dolakha district.

The remaining 15 percent of the issued capital, totaling 8,25,000 shares, will be offered to the general public in a later phase. Within the general public category, 10 percent of the shares (82,500 units) have already been reserved for Nepali citizens who are currently working abroad.

For project-affected locals, the minimum number of shares that can be applied for is 10 units, while the maximum limit is 10,000 units. Similarly, Nepali citizens working abroad can apply for a minimum of 10 shares and a maximum of 4,000 shares.

RBB Merchant Banking Limited has been appointed as the issue manager to oversee and manage the IPO process.

In terms of credit rating, CARE Ratings Nepal Limited (CRNL) has reaffirmed the company’s issuer rating of CARE-NP BB (Is). This rating suggests that the company carries a moderate level of risk when it comes to meeting its financial obligations on time within the Nepali financial market.

Kalinchowk Hydropower Limited was established on May 19, 2016, and later converted into a public limited company on June 15, 2022. The company is currently developing a 5 MW run-of-river Sangu (Sorun) Khola Hydroelectric Project in Dolakha District, Nepal. The project is being implemented under the BOOT (Build, Own, Operate, and Transfer) model, where the developer operates the project for a certain period before transferring it to the government.