Mandu Hydropower Successfully Concludes IPO with Strong Response from Investors .

                                    Mandu Hydropower Successfully Concludes IPO with Strong Response from Investors .

Mandu Hydropower Limited has successfully completed its Initial Public Offering (IPO) process. The Sales Manager, Prabhu Capital, conducted the share allocation on Sunday.

According to Prabhu Capital, a total of 1,016,714 applications were received for the IPO. Out of which, only 872,837 applicants are eligible to receive shares. Therefore, 143,877 applicants have been disqualified.

Prabhu Capital has stated that due to oversubscription, the share allocation was conducted through a lottery system. As a result, 120,532 applicants were able to receive shares at the rate of 10 units per person. The remaining applicants were left empty-handed.

Out of the total applications, 141,296 applications from CASBA members were rejected. Similarly, 578 duplicate applications were also cancelled. Among the local residents, 49 applicants who received shares also had their applications cancelled. Likewise, 1,923 foreign employment reservation applicants and 8 employee reservation applicants had their applications cancelled. Additionally, 23 promoters of the company who applied for the IPO also had their applications cancelled, as informed by Prabhu Capital.

The results of the IPO will be published after some time. After the publication of the results, they can be viewed through three different methods. According to Sales Manager Prabhu Capital, the results can be viewed from their website [], from the website of CDSC Meroshare [] , and from the website [] operated by CDSC for IPO results. From the Meroshare website, applicants can also view their application reports and check their results by entering their demat account number and other details. CDSC has completely banned third-party apps from displaying IPO results, so IPO results can only be viewed through these three methods.

Previously, Mandu Hydropower Limited had issued 1,250,320 shares for the general public from Bhadra 10 to Bhadra 13. The company issued shares at a premium of NPR 106 per unit, including the face value of NPR 100 per share.

The company, which is currently operating the 22 MW Bagmati Hydropower Project in Kogate, Makawanpur District, started electricity production from Chaitra 18, 2075 BS. The project harnesses the power of the Bagmati River.

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