IPO Result of Peoples Hydropower Company Ltd. By the end of the day, 12.68 lakh applicants had contributed Rs. 1.49 Arba to the Peoples Hydropower Company IPO, which had been 2.9 times oversubscribed. During their Initial Public Offering (IPO) from the 25th Kartik to the 29th Kartik, 2079, Peoples Hydropower Company Limited (PHDCL) distributed 56,06,390 shares totaling Rs. 56.06 crores to the general public. A total of 56,06,390 units have been allocated, with 168,190 units (or 3% of the total offered shares) being reserved for firm personnel and 280,320 units (or 5% of the total offered shares) being reserved for mutual funds.
The general public purchased the remaining 51,57,880 units. In all, the business hopes to raise Rs 56.06 crores through this IPO. The IPO issuance’s issue manager was chosen to be Sanima Capital. A minimum of 10 units and a maximum of 100,000 units were available for application. The issue manager reports that as of the final day, 12,68,217 applicants have submitted applications for a total of 1,49,99,250 units totaling Rs. 1.49 Arba. As a result, as of closing day, the IPO had received 2.9 times as many units from regular applicants.
Short details about the IPO Result of Peoples Hydropower Company Ltd
|Number of shares||56,06,390|
|For mutual fund||2,80,320|
|For General Public||51,57,880|
|Number of Total Applicants||12,68,217|
|Total Oversubscribe||2.9 Times|
|Opening date||25 Kartik 2079|
|Closing date||29 Kartik 2079|
About the Company: – Peoples Hydropower Company
It was founded on October 9, 2007, as Peoples Hydropower Corporation Private Limited, then on February 27, 2019, it changed its status to Public Limited. Peoples Hydropower Company Limited (PHDCL) is a company that operates under public limited liability. For the construction of a 54 MW run-of-river Super Dordi Hydropower Project Kha (SDHPK) in Nepal’s Lamjung district, individual promoters from various backgrounds and institutional investors are involved. Build, Own, Operate, and Transfer (BOOT) is the construction method used for the project.
The project should turned over to the Government of Nepal following the Generation License, which has a 35-year expiration date, on any terms the project requires. The PHDCL has received the ratings of “CARE-NP BB” for its long-term bank facilities and “CARE-NP A4” for its short-term bank facilities from Care Rating Nepal Limited. Because of the election, the expected date of this IPO result is not sure. So, we can say that the result of this IPO will publish after the election.
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