The company obtained approval to issue 20.7067 percent of issued capital Rs 2.83 billion as IPO to the public. Accordingly, it issued 5,860,000 units of ordinary shares worth Rs 286 million.
Out of total approved units, the company allotted 566,000 units to locals of affected area and 259,400 units to foreign migrated workers of Nepal. Similarly, it also allotted 158,820 units to employees and 264,700 units to mutual funds. In the second phase, it issued 4,341,800 units worth Rs 434.1 million to the general public.
In the issue, a total of 2,422,177 applicants applied for 27,637,720 units of shares. Out of the total number of applications, 2,422,177 applications were approved.
Given that the issue was oversubscribed, the allotment took place as per Securities Issuance and Allotment Guidelines under which 434,108 applicants were provided 10 units of shares through lottery.
