Kalanga Hydro's IPO release date public, how many applications?

Kalanga Hydro Limited has gone ahead with the initial public offering (IPO) process. The company has announced that it will open the IPO application for the public from May 8. Investors can apply for it till May 13th. However, if there is no demand in the market, the issue period will be extended till May 22. Earlier, Kalanga Hydro has already issued and distributed targeted shares for the local residents affected by the project and Nepalese working abroad. Now, the remaining shares are going to be sold to the general public.

The company has already received permission from the Nepal Securities Board to issue 4.9 million shares equal to 35 percent of the issued capital of 1.4 billion rupees. The total value of these shares, which will be issued at a nominal rate of Rs 100 per share, will reach Rs 49 crore. During the primary share issue, the company has already distributed 1.4 million shares to the residents of the project affected areas and 350 thousand shares to Nepalis working abroad.

Out of the total issue, 1 lakh 75 thousand shares have been reserved for the collective investment fund and 1 lakh 5 thousand shares have been reserved for the employees of the company. After all these allocations, a total of 2.870 thousand shares will be available for sale to general investors. Investors can apply from a minimum of 10 shares to a maximum of 20,000 shares. As the primary share issue has seen significant investor interest in recent times, this IPO is also likely to be oversubscribed within the stipulated period. Sanima Capital Limited will be the manager of this primary share issue and sale.