Panchakanya Mai IPO allotted; 68% of applicants allotted 10 unit shares each through lottery

Sunrise Capital Limited, the issue manager for the 11 lakh unit shares IPO of Panchakanya Mai Hydropower Limited, has successfully concluded the allotment of shares today. 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 applicants, exactly 1,00,100 general public applicants were decided through lottery and were allotted 10 shares each. 44,000 shares were allotted to the hydropower company’s staffs and 55,000 shares were allotted to the existing mutual funds.

As per the issue manager, 22 institutional investors had also applied for the IPO, but their applications were cancelled.

Individual lottery results can be checked at ShareSansar’s IPO Result section.

Panchakanya Mai Hydropower had issued 11 lakh unit shares to the general public from Shrawan 1 to Shrawan 4, 2075. It had also earlier issued 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 from Magh 5, 2074.

The hydropower company has generated 9.98 MW electricity from Upper Mai hydroelectric project in Mabu, Maimjhuwa and Sulubung VDC of Illam district. In addition, the company also operates 6.1 MW Upper Mai (Cascade) Hydropower Project.