The allocation of IPO shares for Manakamana Engineering Hydropower Limited has been completed today at the B.O.K Capital Markets Limited premises in Kathmandu. The hydropower company offered 2,276,620 shares at a face value of Rs 100 each to the public for subscription from the 28th to the 31st of Shrawan, 2080.
Initially, the company had issued 800,000 shares worth Rs. 8 crores to people affected by the project in Dolakha District. However, only 183,380 shares, which accounts for 22.92%, were allotted to eligible applicants. As a result, the remaining 616,620 unsold shares from the project-affected locals’ quota have been combined with 2,000,000 shares (25% of the total issued capital, reserved for the general public), resulting in a total of 2,616,620 shares available for the general public.