Last Day to Apply for IPO of Panchakanya Mai Hydropower

Jul 20, 2018 Merolagani

Today is the last day to apply for initial public offering (IPO) of Panchakanya Mai Hydropower (PMHL). The company is issuing IPO worth Rs 110 million to the general public from July 17.

The company is issuing 1.1 million units of IPO, out of which it has allocated 4 percent i.e. 44,000 units to employees and 5 percent i.e. 55,000 units to the mutual funds. The remaining 1,001,000 units of shares will be issued to the general public.

The company has appointed Sunrise Capital as its issue manager.

The interested investors can apply fora minimum of 50 anda maximum of 5,500 units of shares. The investors can apply for the shares from all C-ASBA approved BFIs.

According to the company, the amount accumulated from IPO will be utilized to pay bank liability. The company is planning to pay Rs 40 million to Nabil Bank and Rs 70 million to Everest Bank for the loan taken to construct Upper Mai C Hydropower Project.

Presently, the company has a paid-up capital of Rs 990 million that will reach Rs 1.1 billion after the IPO issuance.

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