IPO of Kalinchowk Darshan Limited from the Hotel & Tourism sectors opened for Local and foreign employment.
This is also the first company after SEBON announced companies need to allocate 10% of their initial public offering to Nepalese workers abroad.
This is a new beginning for the upcoming IPOs in Nepal.
Kalinchowk Darshan Limited IPO Opening Dates | Shares
The IPO opening of Kalinchowk Darshan (KDL) has started for Locals and Foreign employment from 30th November 2022. The company plans to sell 30% of its share to the general public and rise 18 crores for its future plans.
The issue manager for this IPO issuance is Nabil Investment Banking Limited.
| Issue Type | Allocated | Opening | Closing | Extend |
|---|---|---|---|---|
| Foreign | 108000 | 30th Nov 2022 | 14th Dec 2022 | |
| Local | 120,000 | 30th Nov 2022 | 14th Dec 2022 | 29th Dec 2022 |
| Public | 10,80,000 | Soon | – |
IPO for General Public for Kalinchowk Darshan Limited
The general public of Nepal will be able to apply for IPO in KDL after employment and local’s dates are over.
IPO for Locals for KDL
According to the press released by the company they have reserved 2% of their total share for the locals, they can apply a minimum of 10 shares and a maximum of 4,990 shares per person.
IPO opening date is 30th Nov 2022 and will continue until 14th December 2022, if they fail to sell their shares until this date then they will extend it to 29th December 2022.
IPO for Foreign Employment KDL
A minimum of 10 units and a maximum of 10800 shares can be bought by Nepalese working in foreign.
They have 10% share’s reserved after SEBON and the Ministry of Finance decided the workers abroad deserved to participate in the Nepali stock market.
They also feel this will increase their investment opportunity and expect to see a rise in the country’s economy.
According to the report oversubscription from the foreign employment, the side has already been seen.
Rating of Kalinchowk Darshan Limited
The rating of the firms has been done by Care Rating Nepal and they’ve assigned a ‘Care-NP BB+ (Is)’ certificate with a comment.
Moderate risk of default regarding the timely servicing of financial obligations in Nepal
Care Nepal’s comment on Kalinchowk Darshan Limited
