Panchakanya Hydro to allot IPO today; 32% Applicants to remain empty handed

Jul 27, 2018 Merolagani

Panchakanya Mai Hydropower (PMHL) is allotting its IPO on the morning of Friday. As per issue manager, Sunrise Capital, the IPO is set to allot on 10:00 AM. As per the verified statistics, nearly 68 percent of the applicants will be provided a mandatory 10 units of shares as per SEBON directive while 32 percent will be left empty-handed.

Sunrise Capital informed that a total of 146,389 applicants have been verified for 18,400,730 units of shares.

The IPO is oversubscribed by 18 times i.e. the issuance is applied for Rs 1.84 billion worth of shares.

The company issued 1.1 million units of IPO, out of which it 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 were issued to the general public.

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.

comments powered by Disqus

Gold and Silver Price Declines

Jun 23, 2021 12:02 PM

The gold and silver price has decreased on June 23. On the day, the gold price decreased by Rs 300 per tola.