As per NMB Capital, it will allot the IPO by the end of the week after completing the pre-allotment phase. It informed that the task of data verification has ended.
The pre-allotment will be concluded within a few days and shares will be allotted by the coming Friday.
The IPO has been oversubscribed by 16.92 times. The company issued 1,848,015 units to the general public. A total of 31,266,262 units of shares worth Rs 3 billion have been applied during the issue.
As the issue is oversubscribed, it will be allotted as per the Securities Issuance and Allotment Guideline. Thus, only 184,801 applicants will receive 10 units of shares through the lottery.
As a result, 91.13 percent of applicants will be left empty-handed. As the data is not final, the percentage will be even higher.
The company is issuing 1,977,300 units of primary shares worth Rs 197.7 million in IPO from June 25-29.
Out of the offered units, the company secured 30,420 units for employees and 98,865 units for mutual funds. The general public could apply for the remaining 1,848,015 units of shares.
