Panchakanya Mai Hydropower to float IPO from tomorrow ; Minimum units 50 acceptable

Panchakanya Mai Hydropower is all set to issue IPO shares from 1st Shrawan, 2075.i.e. tomorrow.

The issue is expected to end on 4th Shrawan (if early). However, the issue can extend till 15th Shrawan (if undersubscribed). Sunrise Capital has already been appointed as the issue manager for the IPO.

Panchakanya Mai will issue 11,00,000 units at a face value of Rs 100. However, 4% i.e. 44,000 will be set aside for employees whereas 5% i.e. 55,000 will be set aside for mutual funds. Thus, 10,01,000 units will be available for general public. 

The paid-up capital of the company will hike to Rs 1.10 arba after the IPO. Whereas the promoter's holding will dilute 80%. 10% shares of the company has already been issue to locals of the project area and other 10% will now be issued to general public. 

Applicants can apply for minimum of 50 units whereas Maximum of 5,500 units can be applied.