Panchakanya Mai Hydro Allots IPO; See Results in Merolagani

Jul 27, 2018 Merolagani

Panchakanya Mai Hydro(PMHL) has allotted IPO on Friday. A total of 100,100 applicants have received 10 units of shares through a lottery.

The IPO result can be seen in Merolagani.com by clicking IPO RESULT in IPO section.

As per the verified statistics, nearly 68 percent of the applicants are provided a mandatory 10 units of shares as per SEBON directive while 32 percent are 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.


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