The company issued 1,200,000 units of shares worth Rs 120 million to the general investors from September 13-17. Out of the total shares, the company has allotted 24,000 units of shares for employees and 60,000 units of shares for mutual funds.
However, the unsubscribed 15,770 units of shares issued to employees were also added to the issuance issued to the general public informed Global IME Capital, Issue Manager of the company.
The IPO of Rs 120 million was oversubscribed to Rs 800.6 million. Out of the total application for 8,006,990 units, 146 applications for 18,780 units of shares were cancelled.
Earlier, the company issued 600,000 units of IPO worth Rs 60 million to locals of affected area of Gorkha. Presently, the company has a paid-up capital of Rs 480 million. After the IPO issuance, the paid-up capital of the company will reach Rs 600 million.
Kalika Power is operating 6MW Daraudi A Hydropower Project in Gorkha. The fund accumulated will be utilized on short term and long term credit.