Kathmandu. Today is the last day for the project-affected locals to apply for the IPO of Kalanga Hydro.
Kalanga Hydro had issued IPO in the first phase from March 24 for the locals of the project-affected areas and the Nepali migrant workers abroad. Locals can apply during banking hours today. For Nepalis who are in foreign employment, they had to apply till March 15.
The company has been allowed to issue 49 lakh units of shares worth Rs 490 million, i.e. 35 percent of the issued capital of Rs 1.40 billion. In the first phase, 14 lakh units of ordinary shares worth Rs 140 million each have been issued to the locals of the project-affected areas.
Out of the total number of shares, 910,000 units have been allotted to the locals of Kedarsyun Rural Municipality, Ward No. 4 and 5, Bitthadchir Rural Municipality Ward No. 6 and 8, Bungal Municipality Ward No. 3, 4, 6, 8 and 5, Dilasaini Rural Municipality Ward No. 1 and 2 of Baitadi District and Shailyashikhar Municipality Ward No. 1 of Darchula District and 490,000 units of shares have been allotted to the residents of Kedarsyun Rural Municipality of Bajhang. Locals of Bitthadchir Rural Municipality, Bungal Municipality, Dilasaini Rural Municipality of Baitadi and Shailyashikhar Municipality of Darchula district have been divided into wards.
Applications can be place for minimum 10 units and maximum 20,000 units. The interested bidders can bid for the shares from the local office of Global IME Bank, Jaya Prithivi Municipality-10, Bajhang, Gokuleshwor, Shailyashiver-9, Darchula branch of Kumari Bank, Chhabispathibhara Rural Municipality, Bajhang and Dilasini Rural Municipality, Baitadi branch of Agricultural Development Bank, Bungal Municipality-4, Bajhang.
Sanima Capital Limited has been appointed as the issue manager for the IPO issuance.
