Kalanga Hydro to Open IPO from Chaitra 10, Priority for Locals and Nepalis Abroad

Kathmandu — Kalanga Hydro Limited is set to open its Initial Public Offering (IPO) from Chaitra 10, targeting project-affected local residents and Nepali citizens working abroad in the first phase. The company will issue shares from the portion allocated for the general public.The company has received approval to issue 4.9 million shares worth Rs 490 million, which represents 35 percent of its issued capital of Rs 1.40 billion. The IPO has a face value of Rs 100 per share.Out of the total shares, 1.4 million units have been reserved for local residents of the project-affected areas. Of these, 910,000 shares will be allocated to residents of highly affected areas, while 490,000 shares will go to residents of other affected areas.Additionally, 350,000 shares have been set aside for Nepalis working abroad. Applicants in both categories can apply for a minimum of 10 shares and a maximum of 20,000 shares.The IPO will remain open for local residents until Chaitra 24, with a possibility of extension until Baisakh 9 if the issue is not fully subscribed. For Nepalis working abroad, the application window will be open from Chaitra 15 to Chaitra 24.Sanima Capital Limited has been appointed as the issue manager for the IPO.Kalanga Hydro operates the 15.33 MW Kalangagad Hydropower Project in Bajhang district, which has been in commercial operation since Magh 27, 2079 (BS).However, the company currently has accumulated losses exceeding Rs 13.1 million, and its net worth per share stands at Rs 98.56. Given this financial position, investors may need to carefully assess the company’s fundamentals and future prospects before making investment decisions.