The IPO allotment of Kalanga Hydro Limited was successfully concluded today at the office of the issue manager, Sanima Capital Limited, located in Naxal, Kathmandu.
The company had offered 28,70,000 ordinary shares to the general public from Jestha 8 to Jestha 13, 2083.
IPO Structure
Kalanga Hydro has an issued capital of Rs. 1.40 billion, of which 35 percent (49,00,000 shares) has been allocated to the public.
The public offering was structured as follows:
- 14,00,000 shares allocated to project-affected locals of Bajhang District
- 35,00,000 shares allocated to the general public
- Out of the general public allocation:
- 3,50,000 shares reserved for Nepali citizens working abroad
- 1,05,000 shares reserved for employees
- 1,75,000 shares reserved for mutual funds
- 28,70,000 shares offered to the general public
Strong Investor Demand
The IPO attracted overwhelming participation from investors. A total of 28,60,766 valid applicants applied for 3,11,04,780 shares, making the issue heavily oversubscribed.
Due to the high demand, the allotment was conducted through a lottery system.
Allotment Result
As per the final allotment:
- 287,000 applicants received 10 shares each
- Remaining applicants were left without allotment because demand far exceeded the available shares
The allotment outcome reflects the continued strong retail investor interest in Nepal's hydropower sector.
Where to Check the Result
Investors can view their IPO allotment status through:
Credit Rating Upgrade
In a positive development, CARE Ratings Nepal Limited upgraded Kalanga Hydro's issuer rating from CARE-NP BB- (Is) to CARE-NP BB (Is). The rating indicates a moderate risk regarding the company's ability to meet its financial obligations in a timely manner.
About the Company
Kalanga Hydro Limited was established in December 2007 and converted into a public limited company in July 2021. The company is developing the 15.33 MW Kalanga Gad Hydroelectric Project in Bajhang District under the BOOT (Build, Own, Operate, and Transfer) model. The project is a run-of-river hydropower plant and forms part of Nepal's growing renewable energy infrastructure.
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