One more hydropower IPO upcoming; SEBON gives final nod to Kalika Power for issuing 12 lakh unit to general public

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    Kalika Power Company Limited has received final approval from the Securities Board of Nepal SEBON) to issue 12 lakh unit shares as Initial Public Offering (IPO) for the general public.

    Kathmandu Capital Market Limited and Global IME Capital has been appointed as the issue manager of the IPO issuance.

    Previously, the hydropower company had already issued 6 lakh unit shares for the locals of Gorkha district.

    After the issuance of 12 lakh unit shares, the paid-up capital of the company will reach Rs 78 crore.

    ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.

    Kaika Power has been operating a 6 MW Dorodi A Hydropower Project in Gorkha District.

    Source: The Share Sansar