Kathmandu. Kalanga Hydro Company Limited (KHL) has issued its initial public offering (IPO).

According to Sanima Capital, the issue manager of the company, the IPO was allotted through lottery as the number of applications exceeded the demand.

The company had issued 28,70,000 units of shares at a price of Rs 100 per share from May 23 to 28.70 million.

A total of 2,91,924 applicants had applied for 3,15,92,250 units of shares in the IPO. Out of which 28,60,766 applications have been approved while the remaining applications have been rejected.

Accordingly, 2,87,000 people have been allotted 10 units of shares of the company.