KhaniKhola Hydropower receives [ICRANP] IPO Grade 4+; IPO after Tihar

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4+”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) of Khanikhola Hydropower Company Limited (KHCL). KHCL is proposing to come out with an Initial Public Offer of 1,397,143 numbers of equity shares of face value NPR 100/ share to be issued to affected locals (1/3rd) and general public (2/3rd)at par. Civil Capital Market Limited has been assigned as an issue manager. ICRA Nepal assigns IPO grading on a scale of IPO Grade 1 through IPO Grade 5, with Grade 1 indicating strong fundamentals and Grade 5 indicating poor fundamentals. Firstly, KhaniKhola Hydropower will be issuing its IPO for the locals of the project affected area. As per an official of Civil Capital Market Limited, “ IPO for the locals of project affected area will be issued after Tihar.”