Kalinchowk Darshan allots IPO

Feb 02, 2023 10:35 AM Merolagani

Kalinchwok Darshan has allotted recently issued initial public offering (IPO) today. The company issued the IPO on January 17-20 on the premises of Nabil Investment Banking, the issue manager for the company.

As the issue was oversubscribed, the allotment took place as per Securities issuance and Allotment Guidelines under which a minimum of 10 units of shares were allotted.

The company issued 18 percent of its issued capital i.e. 1,080,000 units of shares worth Rs 108 million to the general public. Out of the total offered units, it had issued 10 percent i.e. 108,000 units to foreign migrated workers of Nepal, 5 percent i.e. 54,000 units to mutual funds and 2 percent i.e. 21,600 units to employees.  The general public could apply for the remaining 896,400 units of shares.

In the issue, a total of 1,473,969 applicants applied for 16,670,990 units of shares. Out of them, 8,206 applications were canceled. Out of the remaining, 1,465,763 eligible applications, 89,640 applicants were provided 10 units of shares through lottery.

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