IPO Allotment: Mandu Hydropower Allotted Shares To Nepalese Employed Abroad on 21st Shrawan
Mon, Aug 7, 2023 10:13 AM on Latest, IPO/FPO News, Share Allotment,
Mandu Hydropower Limited has allotted IPO shares to Nepalese citizens working abroad. The allotment program concluded on 21st Shrawan, 2080.
The allotment procedure took place on the premise of the hydropower's issue manager Prabhu Capital Limited's office in Kamaladi.
1,36,364 unit shares of the hydropower company was distributed amongst the Nepali migrants working abroad after seeking approval from concerned authorities.
Applicants, who had applied for the issue in variable quantities from a minimum of 10 units to 1,500 units, a total of 13,636 applicants received 10 unit shares.
Meanwhile, 4 additional units shares were alloted to 4 applicants among the 5,664 subscribers who had applied for 20 to 1,500 unit shares.
The issued capital of the company is Rs. 1.36 Arba of which 2% i.e. 272,730 unit shares have been allocated for project-affected locals of Lalitpur and Makawanpur District. Meanwhile, 10% i.e. 13,63,640 units will be issued later for the general public. Of this public issue, 10% of the shares totaling 136,364 units shares were allocated for Nepalese citizens working abroad from the 11th Shrawan to the 28th Ashad.
The shares were issued for Rs. 206 per share (Rs 100 face value + Rs 106 premium price).
Mandu Hydropower Limited was established on April 15, 2012. It is a hydro project with a capacity of 22MW of electricity generation. It is a joint project with Sichuan Hechuan Co. Ltd. (SHIC) in Chengdu, China. This Project is located at Bagmati River, IPA, Panchakanya VDC, Makwanpur District, Bagmati Zone, Nepal. This project has been successfully running for the last 2 years.
