Allotments of Kalinchowk Darshan Concluded

Allotments of Kalinchowk Darshan Concluded. The IPO allotment process for Kalinchowk Darshan Limited was completed on Thursday by Nabil Investment Banking Limited.

The allotment resulted in 89,640 applicants receiving ten shares each. A total of 14,73,969 people applied for shares. Eighty-two hundred and sixty-six applications were disqualified. Over 13.76 lakh applicants did not receive a response.

IPO To General Public

After the first phase of the IPO, Kalinchowk Darshan Limited issued shares to the general public in the second phase. General public access to the IPO began on Magh 3, 2079 BS. Public shareholders, mutual fund schemes, and employees of the company bought 9,72,000 shares from the company.

The public offering was closed on Magh 6, 2079 BS due to oversubscription.

Of the total shares, 54,000 are allotted to mutual funds. The company also reserves 21,600 shares for its employees. Therefore, the remaining 8,96,400 shares are available to the general public.

A minimum of 10 shares and a maximum of 4,990 shares were available to interested investors.

IPO To Locals & Foreign Employed Nepalese

During the first phase of the IPO, the company sold shares to locals in the project areas and to Nepalese in foreign employment.

The IPO to locals was closed on Mangsir 28, 2079 BS due to full subscriptions. Similarly, the IPO for Nepalese in foreign employment was closed on Mangsir 28, 2079.

A total of 1,20,000 shares worth Rs. 1.2 crores were floated to locals in Dolakha district. The company had also sold 1,08,000 shares to Nepalese in foreign employment (10 percent quota from the IPO).

A minimum of 10 shares could be applied for by locals, and a maximum of 4,990 could be applied for. Nepalese in foreign employment could also subscribe for a minimum of 10 shares and a maximum of 10,800 shares.

The company plans to sell 12,00,000 shares in the public offering [including locals in the project area and Nepalese in foreign employment]. Using a par value of 100 rupees each, the total public issue amounts to Rs 12 crores.

The company was granted permission by the Securities Board Of Nepal (SEBON) on Karthik 23, 2079 BS. A request for permission to float the shares had been submitted by the company to SEBON on Chaitra 15, 2078 BS. SEBON can only approve the sale of shares to the general public after it has received approval from the company.

Twenty percent of the shares in the company will be owned by the public and locals. Promoters will hold the remaining 80 percent of shares.

In the event that the IPO is fully subscribed, the total paid-up capital will reach Rs. 60 crores.

The IPO was managed and issued by Nabil Investment Banking Limited. The company and Nabil Investment Banking reached an agreement on this matter. Kalinchowk Darshan Limited CEO Ashok Shiwakoti and Nabil Investment Banking Limited CEO Manish Narayan Joshi signed the IPO agreement.

Conclusion

The IPO allotment process for Kalinchowk Darshan Limited has witnessed significant interest from the public and locals alike. With 89,640 applicants receiving shares out of a total of 14,73,969 applicants, it is evident that the company’s offering garnered substantial attention. This offering, managed by Nabil Investment Banking Limited, has not only contributed to the company’s capital but also allowed a broader section of the population to become stakeholders. As the company moves forward, it aims to balance public and promoter ownership, with great potential for growth in its future endeavors.