Kalanga Hydro Limited completed the IPO allotment process for project-affected locals of Bajhang District on 14th Baishakh, 2083.

The company has an issued capital of Rs. 1.40 Arba, of which 35%, equivalent to 49,00,000 unit shares, will be issued to the public.

Out of the total public offering:

• 14 lakh unit shares worth Rs. 14 Crores, representing 10% of the issued capital, have been allocated to project-affected locals of Bajhang District.
• The remaining 35 lakh unit shares will later be issued to the general public.

The IPO received 3,441 valid applications seeking a total of 26,39,960 units of shares. Meanwhile, 34 applications for 29,500 units were disqualified.

According to the allotment results:

• 762 applicants who applied for 10 to 270 units received shares as per their requested quantity, totaling 1,31,320 units.
• 2,679 applicants applying for 300 to 15,000 units each were allotted 290 units per applicant, totaling 7,76,910 units.
• An additional 177 applicants from the same category received 10 units each.

Sanima Capital Limited served as the issue manager for the IPO.

For project-affected locals, the minimum application quantity was fixed at 10 units, while the maximum application limit was 20,000 units.

Meanwhile, CARE Ratings Nepal Limited revised the issuer rating of Kalanga Hydro Limited from “CARE-NP BB- (Is)” to “CARE-NP BB (Is).” The rating reflects a moderate risk of default in the timely servicing of financial obligations.

Kalanga Hydro Limited was originally incorporated as a private limited company on December 20, 2007, and was later converted into a public limited company on July 14, 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.