Kalinchok Darshan issuing IPO from 3rd Magh

Kathmandu: Kalinchowk Darshan Limited is going to issue IPO issue to the general public from 3rd Magh.

The company allocated 10 lakh 80 thousand shares worth 10 crore 80 lakh rupees to the general public, which is 18% of its issued capital of 60 crore rupees. Out of this, 10 percent i.e. 1 lakh 8 thousand shares have already been issued for Nepalese who are employed abroad, while 5% i.e. 54 thousand shares have been distributed to mutual funds. Likewise, 21 thousand 600 shares which will be 2% have been allocated for employees. The general public can apply for the remaining 896,400 shares.

In the IPO, general public have to apply for a minimum of 10 shares and can apply for a maximum of 4,990 shares. The book close of issuance will be on 6th of Magh as soon as possible. If the complete application is not received by that period, the issuance period will be extended until 17th Magh.

According to the rating given for IPO issuance, Care Rating Nepal has given the company Care NP Double B Plus Issuer Rating. This indicates that there is a medium level of risk in the ability of the company to bear its obligations.

Nabil Investment Banking Limited has appointed as a issued manager of the company. General public can apply through all C-ASBA member banks and financial institutions approved by Nepal Securities Board and their designated branch offices as well as through MeroShare Account.