Kathmandu. Today is the last day for the project affected locals to apply for the IPO of Kalinchowk Hydropower Company.
According to RBB Merchant Banking, the project affected locals can apply for the IPO till the banking hours today. Earlier, the locals could apply for the IPO till March 26. However, the company has issued a notice to stop the IPO issuance as the number of applications has exceeded the demand before the said date.
The company had opened the IPO in the first phase from February 27 for the locals and foreign workers of the project-affected areas. The initial public offering (IPO) issued for Nepalis in foreign employment was stopped on March 17.
The company has been allowed to issue 13,75,000 units of shares worth Rs 13.75 crore, which is 25% of the issued capital of Rs 55 crore. Out of the total offered shares, 550,000 units of ordinary shares worth Rs 55 million each are being issued to the locals of the project-affected areas.
The IPO will be floated in Bigu Municipality Ward No. and Kalinchowk Rural Municipality Ward No. 8. Residents of Ward 1 and 2 can apply. Applications can be place for minimum 10 units and maximum 1000 units.
The interested bidders can bid for the shares from branches of Nepal Investment Bank, Sindhu Bikas Bank and Sindhu Hydropower, Kalinchowk Hydropower and Bigu Rural Municipality-8.
