Kalinchowk Hydropower Limited is closing its IPO issue for the general public today (Chaitra 25, 2082). The company had opened the issue on Chaitra 22, offering 684,750 units at a face value of Rs. 100 per share.

The company’s issued capital stands at Rs. 55 crores, of which 25% (1,375,000 units) is allocated to the public. Out of this, 550,000 units were reserved for project-affected locals of Dolakha district, while the remaining 825,000 units were allocated to the general public.

From the general public portion, 10% (82,500 units) were allocated to Nepalese working abroad, 2% (16,500 units) to employees, and 5% (41,250 units) to mutual funds. The remaining 684,750 units are being closed today.

According to CDSC and Clearing Limited, the IPO received 2,227,493 applications for 26,252,800 units, making it oversubscribed by 38.33 times.

The issue manager for the IPO is RBB Merchant Banking Limited. Investors could apply for a minimum of 10 units and a maximum of 100,000 units.

CARE Ratings Nepal has reaffirmed the company’s rating at ‘CARE-NP BB (Is)’, indicating a moderate risk of default in meeting financial obligations.

The company is currently developing a 5 MW Sangu (Sorun) Khola Hydropower Project in Dolakha under the BOOT model.