Om Megashree Pharmaceuticals Limited has successfully completed its IPO (Initial Public Offering) allotment. The allotment process took place at Prabhu Capital Limited, the issue manager, in Lazimpat, Kathmandu.
The company had issued 1.8 million shares, worth Rs 18 crore, for the general public from Falgun 27 to Chaitra 3, 2081. Out of these, 90,000 shares (5% of the total) were reserved for mutual funds, and 54,000 shares (3%) were set aside for company employees. The remaining 1,476,000 shares were available for the general public at a price of Rs 100 per share.
The IPO received an overwhelming response, with 1,848,298 valid applicants requesting a total of 21,282,420 shares. This means the IPO was oversubscribed by more than 14.41 times.
Due to high demand, the allotment was done through a lottery system. A total of 147,600 lucky applicants received 10 shares each. Unfortunately, 1,700,698 applicants did not get any shares. Additionally, 200,527 applications, requesting a total of 3,138,150 shares, were rejected.
Investors can check their IPO results through CDSC IPO Result, MeroShare, and Prabhu Capital.
CARE Ratings Nepal Limited (CRNL) has given Om Megashree Pharmaceuticals Limited a ‘CARE-NP BB- (Is)’ rating. This indicates a moderate risk for financial obligations. The company’s long-term and short-term bank facilities have also been rated as ‘CARE-NP BB-’ and ‘CARE-NP A4,’ respectively.
Om Megashree Pharmaceuticals Limited was established on June 12, 2016, as a public limited company. It is backed by a group of institutional and individual investors. The company manufactures pharmaceutical products at its Chitwan-based plant, which started partial operations on February 19, 2024.
