Kalinchowk Darshan Limited is going to close its 8,96,400 Units of IPO shares today
As of today, 6 Magh 2079, Kalinchowk Darshan Limited is terminating its first public offering to the general public of 896,400 unit shares with a face value of 100 rupees. The problem was first raised on March 3rd, 2079.
Of the entire 10,80,000 units, 10%, or 108,000 units, have already make available and distributed to Nepalese nationals who live and work overseas. In addition, 5%, or 54,000 units, of the total offered shares have reserve for mutual funds. 2%, or 21,600 units, have been set aside for company employees. The last 896,400 units will be distributed to the general public. The firm wants to raise Rs. 8.96 crores through this IPO.
The company’s paid-up capital will amount to Rs. 60 crores after the IPO. Prior to this, the company gave away 120,000 shares worth Rs. 1.2 crore to locals affected by the project and 108,000 shares to Nepalese nationals working overseas. The promoter owners own 80% of the company’s shares.
The issue manager for the IPO issuance is Nabil Investment Banking Ltd. Applications may request a minimum of 10 units and a maximum of 4,990 units.
For a total of 13,391,810 units, CDSC has submitted applications from 11,47,502 applicants. The issue has thus received 14.93 times more responses than expected.
Kalinchowk Darshan Ltd is give the rating of “CARE-NP BB+(Is)” by CARE Ratings Nepal Ltd (CRNL). Issuers with this grade are thought to have a modest risk of default when it comes to the timely payment of debts in Nepal.
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