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The IPO allotment of Kalinchowk Hydropower Limited has been completed, with more than 2.7 million applicants left empty-handed.

The share issuance and sales manager, RBB Merchant Banking Limited, carried out the allotment on Monday.

According to the company, a total of 2,784,519 applications were received, but only 68,475 applicants were allotted shares, each receiving 10 units.

The company had opened its IPO for public subscription from March 22 to 25, issuing 684,750 units of shares worth Rs 68.475 million at a face value of Rs 100 per share.

Investors can check the IPO results through the CDS and Clearing Limited (CDSC) website and the Mero Share platform.

For the IPO issuance, the company received a CARE-NP Double B issuer rating from CARE Ratings Nepal Limited, indicating a moderate level of risk in meeting its financial obligations.

Kalinchowk Hydropower operates the 5 MW Sanghu Khola Hydropower Project, with a total cost of Rs 1.20 billion. The cost per megawatt stands at Rs 24.14 million.

As of mid-January, the company’s net worth per share stood at Rs 106.65, while earnings per share were Rs 1.46. The company has reported retained earnings of Rs 27.4 million, according to its published financial statement.