Peoples Hydropower Company IPO Allotment to be Concluded on Wednesday at 4 PM; 515,788 Lucky Applicants will Get 10 units Each

The IPO allotment of Peoples Hydropower Company Limited (PHDCL) will take place this Wednesday, i.e. Mangsir 07, 2079. The allotment program will be held on the premises of the issue manager Sanima Capital, starting at 4 pm that day.

The company issued its IPO issue of 56,06,390 units ordinary shares worth Rs 56.06 crore to the general public from 25th Kartik to 29th Kartik. Out of the total 56,06,390 units; 3% of the total offered shares i.e. 168,190 units were set aside for the employees of the company and 5% of the total offered shares i.e. 280,320 units were set aside for the mutual funds. The remaining 51,57,880 units were for the general public.

According to data presented by CDSC, the issue has received approx 12,68,217 applications applying for a total of 1,49,99,250 units of shares till last day. Thus, the IPO was oversubscribed by 2.9 times in terms of number of units through ordinary applicants as of closing day

Looking at the data, it is apparent that only 5,15,788 lucky applicants will get ownership of the company.