Kalinchowk Darshan IPO Allotment To Be Concluded On Thursday At 10 AM

The IPO allotment of Kalinchowk Darshan Limited (KDL) will take place this Thursday, i.e. on 19th Magh, 2079. The allotment program will be held on the premises of the issue manager Nabil Investment Banking Limited, starting at 10 am that day.

The company issued 896,400 units of shares of Rs 100 face value as an Initial Public Offering worth Rs 8.96 crore to the general public from 3rd Magh to 6th Magh. Out of the total 10,80,000 units; 10% i.e. 108,000 units were already issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 21,600 units were set aside for the employees of the company, and 5% of the total offered shares i.e. 54,000 units were set aside for the mutual funds. The remaining 896,400 units were for the general public.

The company intends to collect Rs 8.96 crore from this IPO. The paid-up capital of the company will reach Rs. 60 Crores after the IPO issuance.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB+(Is)’ to Kalinchowk Darshan Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations in Nepal.