Kalanga Hydro Limited to Float IPO | Appoints Jyoti Capital as Underwriter

January 4, 2024 | Investopaper

Kalanga Hydro Limited is in the process of issuing shares to the general public (IPO). For this purpose, the company has appointed Jyoti Capital Limited as the underwriter for the public offering.

The company plans to sell 49 lakh shares at Rs. 100 in the public offering (IPO). Of the total shares, 34.90 lakh shares will be guaranteed by Jyoti Capital.

An agreement has been reached between the company and Jyoti Capital on this regard. The agreement was signed by Tirthraj Chataut, director of Kalanga Hydro Limited and Bikas Dhakal, Chief Executive Officer of Jyoti Capital.

Now, the company needs to appoint the issue manager and then submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.

In the first phase, the company will issue shares to the locals of the project affected areas and foreign employed Nepalese. Likewise, in the second phase, the hydropower will float shares to the general public, including the employees of the company and the mutual fund schemes.

About Kalanga Hydro Limited

Kalanga Hydro Limited, incorporated in December 2007 as a private limited company, was transformed into a public company on July 15, 2021 to sell the shares to the general public.

The company is currently developing Kalanga Gad Hydroelectric Project in the Bajhang district of Sudurpaschim Province, Nepal. The project is a Run-of-river(ROR) type project with an installed capacity of 15.33-MW.

The major promoters of the company include:

—Jalanjali Investment Pvt. Ltd. (holding about 34% stake),

—Shiva Shankar Investment Pvt. Ltd. (about 18%),

—Barun Investment Pvt. Ltd. (about 13%),

—Kalanga Urja Bikash Investment Pvt. Ltd. (about 9%),

—Jaya Ganesh Investment Pvt. Ltd. (about 10%),

—Shubha Laxmi Hydro Investment Pvt. Ltd. (about 4%)


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Upcoming Initial Public Offerings (IPO) In Nepal 


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