KATHMANDU, Nov 30: Kalinchowk Darshan Limited has opened the sale of its ordinary shares for locals and Nepalis abroad. In the first phase, the company has opened the issue and sale of 228,000 units of shares of initial public offering (IPO) at the rate of Rs 100 per share from today.

The company has set aside two percent of its issued capital of Rs 600 million, i.e., a total of 120,000 shares worth Rs 12 million, for the local residents affected by the project. Similarly, the company said that 18 percent of the issued capital, i.e. 10 percent of the 180,000 shares worth Rs 108 million, has been issued for Nepalis who are employed abroad.

It is mentioned in the invitation letter published by the company that the local residents affected by the project can apply for the purchase of a minimum of 10 shares to a maximum of 4,990 shares in the issued shares until the 14th of December and if no application is received as per the demand during that period, until the 29th of December. Likewise, Nepalis who are employed abroad can apply for the purchase of a maximum of 10,800 shares till 14th of December.

Investors can apply for the purchase of shares from the branch offices and company offices designated by investors Mega Bank and Century Bank and the securities issue and sales manager of the company can apply for the purchase of shares from the office of Nabil Investment Banking Limited. Similarly, the company has made arrangements to apply for share purchase through the 'C ASBA' system from ASBA member banks and financial institutions approved by the Nepal Securities Board and their designated branch offices.

The company is operating a cable car from Charikot in Dolakha to Kalinchowk Bhagwati Temple. The company has been awarded ‘Care-NP BB+ (Ir)’ certificate by Care Nepal.

 
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