The allotment of the Initial Public Offering (IPO) of Panchakanya Mai Hydropower Ltd. (PMHL) has successfully been concluded today Friday morning 27th July 2018 (11 Shrawan 2075) by Sunrise Capital Ltd., its issue manager. The allotment was held amidst a program organized at Sunrise Capital premises in Kamalpokhari, Kathmandu at 10:00 AM.
Out of the total 1,46,389 valid general applicants, exactly 1,00,100 (68.38%) were decided through lottery and each lucky one was allotted a mandatory 10 unit shares as per the SEBON directive while the remaining 46,289 (31.62%) were unfortunately left empty-handed. The company has collected over Rs 1.84 arba from nearly 1.50 lakh applicants and IPO is oversubscribed by nearly 18.4 times.
The company had issued 11,00,000 unit shares at a face value of Rs 100 per unit share for 4 days just last week starting from Monday 17th July 2018 (1st Shrawan 2075) till Friday 20th July 2018 (4th Shrawan 2075). Of the total unit shares, 44,000 (4%) units were set aside for employees whereas another 55,000 (5%) units were set aside for mutual funds. Thus, the remaining 10,01,000 (91%) units were available for the general public.
The company had earlier issued Initial Public Offering (IPO) shares of 11,00,000 units shares worth Rs 11 crore at par value of Rs 100 per unit to the project affected local residents of Sandakpur Rural Municipality and Ilam Municipality last year. It has generated 9.98 MW electricity from its project area - Mabu, Maimjhuwa and Sulubung VDC of Illam district. In addition, the company’s 6.1 MW Upper Mai (Cascade) Hydropower Project is in final stage of construction.
According to the company, the amount collected from this IPO will be utilized to pay the bank liabilities. It is planning to pay Rs 400 lakhs to Nabil Bank and Rs 700 lakhs to Everest Bank for the loan taken to construct Upper Mai C Hydropower Project.
With this IPO issue, its paid-up capital has hiked to Rs 1.10 arba and the promoter's holding has diluted to 80%. Its 10% shares have already been issue to locals of the project area and other 10% are soon to be allotted to the general public. ICRA Nepal has assigned Grade 4 rating to the upcoming IPO issue indicating below average fundamentals.
CHECK PANCHAKANYA MAI HYDROPOWER IPO RESULT HERE:
Individual lottery results can be checked at links given below:
Check out the result:
Check the link below to see the result at Sunrise Capital Ltd site:
Check the link below to see the result at ShareSansar Site:
Check the link below to see the result at NepseKhabar Site:
Check the link below to see the result at Bizpati Site:
StockNewsNepal: Friday 27th July 2018.
Also Check These Out:
Panchakanya Mai IPO allotted; 68% of applicants allotted 10 unit shares each through lottery !
एक लाख १०० ले पाए पञ्चकन्या माइ हाइड्रोपावरको आइपीओ, बिजपाटीमा यसरी हेर्नुस आफ्नो नतिजा !
पञ्चकन्याको आईपिओ ६८% अावेदकले पाउने, कहिले हुँदैछ बाँडफाँड ?
पञ्चकन्या माई हाइड्रोपावरको आईपीओ शुक्रवार बाँडफाँट हुने !
पञ्चकन्याको आईपिओ ६८% अावेदकले पाउने, कहिले हुँदैछ बाँडफाँड ?
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