Mandakini Hydropower IPO Allotment to be Concluded on Tuesday at 4 PM; 1,09,374 Lucky Applicants will Get 10 units Each

Mon, Aug 1, 2022 4:31 PM on Latest, IPO/FPO News, Share Allotment,

BOK Capital Market Limited is going to allot IPO of Mandakini Hydropower Company Limited (MAHCL) on Tuesday i.e Shrawan 17 at 4 PM. The IPO allotment will take place at the premises of B.O.K Capital Markets Limited, Naxal, Kathmandu.

The company opened its IPO issue of 11,76,073 units of ordinary shares worth Rs 11.76 crore to the general public on Shrawan 09 till 12th Shrawan, 2079.

Out of the total 11,76,073 units; 2% of the total offered shares i.e. 23,521 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 58,803 units have been set aside for the mutual funds. The remaining 10,93,749 units were for the general public. The paid up capital of the company will reach to Rs. 58.80 Crores after the IPO issuance.

According to CDSC, 16,15,469 applicants have applied for a total of 1,81,27,390 units worth Rs. 1.81 Arba till last day. Thus, the IPO was oversubscribed by more than 16.57 times in terms of number of units through ordinary applicants as of closing day.

Mandakini Hydropower Pvt. Limited is an Independent Power Producers Association Nepal (IPP) of Nepal, owns the Sardi Khola Hydropower Station. It is a run-of-river hydroelectric plant located in the Kaski District of Nepal. The flow from the Sardi River is used to generate 4 MW of electricity. The plant started generating electricity from 2074-08-23 BS. The generation license will expire in 2105-03-12 BS, after which the plant will be handed over to the government. The power station is connected to the national grid and the electricity is sold to Nepal Electricity Authority.