Kalanga Hydro Limited is set to issue the first phase of its Initial Public Offering (IPO) starting Chaitra 10.
Under this phase, the company will issue shares to local residents of the project-affected areas and Nepali citizens working abroad from the portion allocated for the general public.
The company has received approval to issue 49 lakh shares worth Rs 490 million, which is 35 percent of its issued capital of Rs 1.40 billion. The IPO will be issued at a face value of Rs 100 per share.
Out of the total shares:
14 lakh shares have been reserved for local residents of the project-affected areas.
Among them, 9,10,000 shares will be allocated to residents of highly affected areas, while 4,90,000 shares will be distributed to residents of other affected areas.
Additionally, 3,50,000 shares have been reserved for Nepali citizens working abroad.
Applicants in both categories can apply for a minimum of 10 shares and a maximum of 20,000 shares.
For local residents, the IPO application will remain open until Chaitra 24 at the earliest and Baisakh 9 at the latest, while Nepali workers abroad can apply from Chaitra 15 to Chaitra 24.
The IPO issue manager is Sanima Capital Limited.
The company operates the 15.33 MW Kalangagad Hydropower Project in Bajhang, which began commercial electricity generation on Magh 27, 2079.
Currently, the company has accumulated losses of more than Rs 13.1 million, while its net worth per share stands at Rs 98.56.
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