Kalinchowk Hydropower Limited Opens IPO for General Public

Kalinchowk Hydropower Limited (KHL) has officially launched its Initial Public Offering (IPO) for the general public from 22nd Chaitra, 2082, offering 6,84,750 shares at a face value of Rs. 100 per unit. Originally scheduled to close on 25th Chaitra, 2082, the IPO may be extended to 6th Baisakh, 2083 if undersubscribed.

The company’s issued capital stands at Rs. 55 crore, of which 25% (13,75,000 shares) is earmarked for the public. Out of this, 5,50,000 shares will go to project-affected locals of Dolakha, while the remaining 8,25,000 shares are for the general public.

Within the public offering:

• 82,500 shares (10%) are reserved for Nepalese working abroad.
• 16,500 shares (2%) are for company employees.
• 41,250 shares (5%) are reserved for mutual funds.
• 6,84,750 shares are open to all general investors starting today.

Applications can be made for a minimum of 10 units and a maximum of 1,00,000 units. RBB Merchant Banking Limited has been appointed as the issue manager.

CARE Ratings Nepal Limited (CRNL) has reaffirmed KHL’s issuer rating at ‘CARE-NP BB (Is)’, indicating a moderate default risk in fulfilling financial obligations.

KHL, incorporated on May 19, 2016, and converted to a public limited company on June 15, 2022, is developing the 5 MW Sangu (Sorun) Khola run-of-river hydroelectric project in Dolakha District under the BOOT (Build, Own, Operate, Transfer) model.

This IPO provides an opportunity for both domestic and overseas investors to participate in Nepal’s growing hydropower sector.