NMB Capital, Issue Manager of the company informed that the collection of share application data of the issuance is yet to complete.
According to Kamal Nepal, Business and Operation Head of Capital, applicants have preferred manual share applications over C-ASBA on the given issue. Thus, the data collection has not completed yet. Consequently, the FPO will be allocated within 30 days of the closure date.
The FPO closed on February 27. Based on the date, the FPO will be allocated on first week of April.
Moreover, the issue was undersubscribed by 28 percent. Out of the total 4.08 million units of shares, only 2.92 million shares were sold. The remaining 1.16 million units of shares will be purchased by the underwriters.
