The Securities Exchange Board of Nepal – SEBON officially approved the proposal for Kalinchowk Darsan’s IPO. SEBON formally approved the proposed initial public offering on Kartik 23 by Kalinchowk Darsan Limitd- KDL.

Note Date: November 22, 2022

 

In its initial public offering, Kalinchowk Darshan Limited will issue shares (IPO). Beginning on Mangsir 14, 2079 BS, the business will offer shares to residents of the project’s affected areas and Nepalese working abroad. The IPO for locals will end on Mangsir 28, 2079, BS, if it is wholly subscribed. However, if it continues to be undersubscribed beyond that time, the application deadline will be extended until Poush 14, 2079 BS.

SEBON accepts Kalinchowk Darsan's IPO proposal

To raise a total of Rs 60 Crore in the capital, the hydroelectric company aims to issue 6,000,000 units of shares at a par value of Rs 100 each. Of the 60,000,000 unit shares, 12,000,000,000 will be allocated to the general public. Following the IPO, the promoter/public ratio should be 80:20. For the proposed IPO issuance, Nabil Investment Banking Limited has been chosen as the issue manager.

The company and Nabil Investment Banking have already come to an understanding of this. Manish Narayan Joshi, CEO of Nabil Investment Banking Limited, and Ashok Shiwakoti, CEO of Kalinchowk Darshan Limited, signed the agreement for the initial public offering (IPO) issuance.

Deadline for Kalinchowk Darsan’s IPO

The initial public offering (IPO) for Nepalis working abroad will also end on Mangsir 28, 2079 BS. So if you are willing to apply for this IPO, you must request before Mangsir 28, the last deadline for application.

Residents may request a minimum of 10 shares and a maximum of 4,990 shares. The maximum number of shares a Nepalese citizen working abroad may subscribe to is 10,800.

On Karthik 23, 2079 BS, the firm received authorization from the Securities Board of Nepal (SEBON). On Chaitra 15, 2078 BS, the corporation applied SEBON asking for permission to flog the shares. The corporation can only offer shares to the general public with SEBON’s approval.

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