Although, the issue manager is yet to publish the allotment result.
The issue was undersubscribed, after which, dispute aroused between the company and issue manager. The issue manager blamed that the company hide important information following which allotment of IPO was delayed.
However, Securities Board of Nepal (SEBON) directed the issue manager to allot the IPO.
Earlier, the company issued 3,351,140 units of primary shares including 1,136,540 unit unsubscribed shares by local of affected areas to the general public from October 3- November 1.
ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.
