Mountain Hydro's 1st Phase IPO Goes Undersubscribed

Aug 27, 2018 Merolagani

The IPO issued by Mountain Hydro (MTHNL) to the locals of affected area has gone undersubscribed. Only 54.71 percent out of 1,250,000 units of total issued shares totaling 683,790 units have been subscribed.

As per Siddhartha Capital, issue manager of the company, 683,790 units of shares have been subscribed to the applicants. The remaining 566,110 units of shares will be added to the 2nd phase IPO to be issued to the general public.

Earlier, the company was supposed to issue 1,250,000 units of shares to the general public, however, now, the company will issue 1,816,110 units of shares in the 2nd phase IPO.

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