By February 27, the third day of IPO issuance, the IPO drew application worth Rs 211 million. The last day to apply for the IPO was extended till today, March 1 due to the announcement of a public holiday by the government on February 28.
As per Sanima Capital, issue manager of the company, the IPO has been oversubscribed by 1.390 times till Wednesday evening.
Earlier, the company issued the first phase IPO to locals of the affected area of Panchthar from January 14-February 12 in which 81.84 percent i.e. 787,750 units of shares were unsubscribed.
Out of the total shares, the company has allotted 35,005 units to employees and 87,512 units to mutual funds.
The interested investors can apply for a minimum of 10 and maximum of 9,620 units of shares at a price of Rs 100. The investors can apply through all C-ASBA approved BFIs as well as meroshare software.
Care Ratings Nepal has assigned grade 4 rating to the issuance indicating below average fundamentals.
