The company informed that it has sought allotment approval from the Securities Board of Nepal (SEBON) after completing the pre-allotment. As the board has given its nod, it will allot the IPO by today.
As per Prabhu Capital, a total of 2,182,775 applicants have applied for the IPO. Out of which 69, 976 applications have been canceled due to error.
Given that the issue has been oversubscribed, allotment will take place as per the Securities Issuance and Allotment Guideline. Based on this, 580,500 applicants will receive 10 units of shares through lottery.
The remaining 1,532,299 applicants will be left empty-handed. It is 73 percent of the total applicants.
The company issued 30 percent shares of its issue capital i.e. 6,450,000 units of primary shares worth Rs 645 million from July 8-12. Out of the total offered units, the company secured 5 percent i.e. 322,500 units to employees and another 5 percent for mutual funds. The general public was issued the remaining 5,805,000 units of shares.
