Kalanga Hydro Limited has successfully concluded the allotment of its Initial Public Offering (IPO) issued to the general public. The company had opened the IPO for public subscription from Jestha 8 to Jestha 13, 2083.

The company's total issued capital stands at Rs. 1.40 billion, of which 35 percent, equivalent to 49 lakh shares, has been allocated to the public. Earlier, 14 lakh shares worth Rs. 14 crore, representing 10 percent of the issued capital, were allotted to project-affected locals of Bajhang District.

The remaining 35 lakh shares were designated for the general public. Out of this, 3.5 lakh shares were reserved for Nepali citizens working abroad, 1.05 lakh shares were allocated to company employees, and 1.75 lakh shares were set aside for mutual funds.

The remaining 28.70 lakh shares were offered to the general public. The IPO received an overwhelming response, attracting 2,860,766 valid applications seeking a total of 31.10 million shares.

As demand far exceeded the available shares, the allotment was conducted through a lottery system. A total of 287,000 applicants received 10 shares each.

Investors can check the IPO allotment results through CDSC IPO Result, MeroShare, and Sanima Capital Limited.

Meanwhile, CARE Ratings Nepal Limited has upgraded Kalanga Hydro Limited's issuer rating from ‘CARE-NP BB- (Is)’ to ‘CARE-NP BB (Is)’, indicating a moderate risk regarding the timely servicing of financial obligations.

Kalanga Hydro Limited was established in 2007 and later converted into a public limited company in 2021. The company is developing the 15.33 MW Kalanga Gad Hydroelectric Project in Bajhang under the Build-Own-Operate-Transfer (BOOT) model.