Kathmandu: Nepal Republic Media Limited’s IPO distributed. Mega Capital Markets, the sales manager, conducted the IPO auction at 10 AM this morning.
The IPO received applications for 1,410,960 lots worth NPR 41,956,560 from 1,299,727 applicants. With the distributed of 3.7 times the offered shares, a lottery will be conducted for the allotment.
Out of the received IPO, 1,032,418 lots worth NPR 32,418,820 have been provisionally allotted to 1,227,569 applicants, while the remaining lots have been left for the lucky draw.
In the provisionally allotted IPO, 361,989 applicants have received 10 lots each at the applied price. Among them, one fortunate applicant has been given an additional 1 lot. Approximately 865,580 applicants were left empty-handed in this IPO.
The company had opened the IPO for the general public from Jestha 26 to Jestha 30. The company had received permission to sell 4,353,000 lots at the face value of NPR 100 per share, with a total worth of NPR 435,300,000. Out of that, the company had allocated 435,300 shares for Nepali nationals working in foreign employment.
In addition, 174,120 lots were set aside for the employees, which accounts for 4% of the total, and 217,650 lots were allocated for the mutual fund of collective investment. The remaining 3,525,930 lots, along with the employees’ allocation of 939,961, will be available for the general public to apply.
The final result of this IPO will be made public soon. The final result can be viewed on the sales manager’s website (iporesult.cdsc.com.np) and the CDS and Clearing Limited’s website.”