Kalanga Hydro IPO Issue Opens for Locals and Migrants

16th March 2026, Kathmandu

Kalanga Hydro Limited has officially announced the opening of its Initial Public Offering (IPO) in the first phase, starting Chaitra 10, 2082 (March 23, 2026).

Kalanga Hydro IPO Issue

This phase specifically targets project-affected local residents in the Bajhang district and Nepali citizens currently employed abroad with valid labor permits. The 15.33 MW project, located on the Kalanga Gad River, has already begun commercial production, making this a unique opportunity to invest in an operational hydropower entity.

IPO Approval and Share Structure

The Securities Board of Nepal (SEBON) granted approval for the offering on Falgun 26, 2082. Kalanga Hydro is set to issue a total of 4.9 million shares at a face value of 100 per share.

The first phase distribution is broken down as follows:

Project-Affected Locals: 1.4 million shares are reserved for residents of the primary and secondary affected areas in Bajhang and surrounding districts.

Migrant Workers: 350,000 shares are allocated for Nepalis working abroad who have obtained labor approval from the Government of Nepal.

Application Details and Limits

Interested investors must meet the minimum and maximum subscription criteria set by the issue manager, Sanima Capital Limited.

Minimum Subscription: 10 shares (Investment of 1,000)

Maximum Subscription: 20,000 shares (Investment of 2,000,000)

Key Deadlines for Applicants

Because this phase involves two distinct groups, the deadlines for submission vary. It is critical to apply within these windows to ensure your application is processed before the general public offering begins.

Opening Date: Chaitra 10, 2082 (March 23, 2026)

Deadline for Migrant Workers: Chaitra 15, 2082

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Deadline for Project-Affected Locals: Chaitra 24, 2082 (Can be extended if under-subscribed)

Eligibility for Project-Affected Locals

The shares for locals are categorized based on the level of impact from the project. According to the official notice, priority is given to:

Primary Affected: Residents of Kedarsyu Rural Municipality (specifically Wards 4 and 5) and Bithadchir Rural Municipality (Wards 6 and 8) in Bajhang.

Secondary Affected: Residents of other wards within Kedarsyu and Bithadchir, as well as Bungal Municipality and neighboring areas in Baitadi and Darchula districts.

How to Apply

The application process differs based on your residency status.

For Migrant Workers:

Applications must be submitted through the Mero Share portal (C-ASBA system). Ensure your CRN number is active and your bank account has sufficient funds.

For Local Residents:

While online application via Mero Share is encouraged, local residents can also apply physically at designated collection centers and bank branches in Bajhang, Baitadi, and Darchula. A small processing fee (typically 2) may be charged for physical form collection.

About the Project: Kalanga Gad Hydroelectric Project

Kalanga Hydro Limited operates the 15.33 MW Kalanga Gad Hydroelectric Project. Unlike many hydropower IPOs that raise funds for construction, this project achieved commercial operation in Magh 2079. This means the company is already generating revenue from electricity sales to the Nepal Electricity Authority (NEA), potentially leading to a shorter wait for dividend distributions.

CARE Ratings Nepal has assigned a ‘CARE-NP BB (Is)’ rating to the company, indicating a moderate risk regarding the timely servicing of financial obligations.

Next Steps: General Public Offering

Once the allotment for locals and migrant workers is finalized, Kalanga Hydro will move into its second phase. The remaining shares of the 4.9 million unit total will be opened to the general public across Nepal.

For More: Kalanga Hydro IPO Issue