IPO Allotment of Peoples Hydropower Company Limited Concludes; 5,15,788 Applicants Get 10 Units Each

The IPO allotment of Peoples Hydropower Company Limited (PHDCL) is concluded today at the premises of Sanima Capital Limited, Naxal, Kathmandu.

Peoples Hydropower Company Limited had issued 56,06,390 units worth Rs 56.06 crore as Initial Public Offering to the general public (Kartik 25 - 29, 2079). 

Out of the total 56,06,390 units; 3% of the total offered shares i.e. 168,190 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 280,320 units have been set aside for the mutual funds. The remaining 51,57,880 units are for the general public.

The issue had received applications from 12,27,059 valid applicants who had applied for a total of 1,37,85,220 units. The issue was oversubscribed by more than 2.68 times. 

As per the allotment module, a total of 5,15,788 applicants were allotted 10 units each via lottery, and the remaining 7,11,271 applicants were returned with empty hands. 

A total of 168,190 units were allotted to the employees and 280,320 units were allotted to the mutual funds.

In total 3,546 applicants who applied for 59,680 units were disqualified due to duplicate applications from Local Shareholders and Promoters' Shareholders.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Sanima Capital. 

Peoples Hydropower Company Limited (PHDCL) is a Public Limited company, incorporated as on October 9, 2007 as a Peoples Hydropower Company Private Limited and changed to public limited on February 27, 2019. It is promoted by individual promoters from different background and institutional investors for setting up of a 54 MW run-of-river, Super Dordi Hydropower Project Kha (SDHPK) in Lamjung district of Nepal. The project is constructed under BOOT (Build, own, Operate and Transfer) mechanism. As per the Generation License, the project shall be handed, on whatever conditions the project is, to the Government of Nepal after expiry of Generation License, which is 35 years.

Care Rating Nepal Limited has assigned ‘CARE-NP BB’ to the long-term bank facilities and ‘CARE-NP A4’ assigned to the short-term bank facilities to the PHDCL.