Kathmandu. Kalanga Hydro Company Limited (KHL) has opened its IPO from May 22 (May 22). The company has issued the IPO for the general public after allocating the IPO for the local residents of the project-affected areas and the Nepalese working abroad.

The company was allowed to issue 4.9 million units of shares worth Rs 490 million, which is 35% of the issued capital of Rs 1.40 billion. Out of the offered shares, 14 Lakh units have been set aside for the locals of the project affected area and 3,50,000 units have been set aside for the Nepali migrant workers.

Similarly, the company has set aside 1,95,000 units for the mutual funds and 1,05,000 units for the employees. In the second phase, the company will be issuing 28,70,000 units of shares at a face value of Rs 100 per share.

Applications can be place for minimum 10 units and maximum 2000 units. The closing will be on May 26 and the next one will be on June 5.

Sanima Capital Limited has been appointed as the issue manager for the IPO issuance. The interested investors can apply for the ASBA service from the banks and financial institutions participating in the ASBA service through the ASBA system. The applicants can also apply online using CDS & Clearing Limited’s software ‘Mero Share’.