Kalanga Hydro Limited has completed the allotment of its Initial Public Offering (IPO), with demand significantly exceeding the available allocation.

The company, which has an issued capital of Rs. 1.40 Arba, had earmarked 35% of its capital—equivalent to 4.9 million units—for public issuance. Of the total, 10% or 1.4 million units were reserved for project-affected locals in Bajhang district, while the remaining 25%—3.5 million units—were allocated to the general public. Within this general public segment, 10%, or 350,000 units, were specifically set aside for Nepalese citizens working abroad.

The IPO attracted a total of 84,308 valid applications for 1,130,620 units, reflecting strong investor interest. However, 18 applications covering 180 units were disqualified during the verification process.

As per the allotment module, 35,000 applicants were allotted 10 units each, in line with the minimum allocation structure.

Investors can access the IPO results through CDSC’s IPO Result platform, MeroShare, and Sanima Capital Limited, which served as the issue manager. The minimum application size for foreign-employed Nepalese investors was 10 units, with a maximum cap of 20,000 units.

In a related development, CARE Ratings Nepal Limited has upgraded the issuer rating of Kalanga Hydro Limited to ‘CARE-NP BB (Is)’ from ‘CARE-NP BB- (Is)’, indicating a moderate risk profile in meeting financial obligations.

Kalanga Hydro Limited, incorporated in 2007 and converted into a public company in 2021, is developing a 15.33 MW run-of-river Kalanga Gad Hydroelectric Project in Bajhang district under the BOOT (Build, Own, Operate, Transfer) model.