Bandipur Cablecar & Tourism Limited will conduct its IPO allotment on Bhadra 25 (Wednesday), with over 2.5 million applicants vying for limited shares.
Bandipur Cablecar & Tourism Limited is set to allot shares of its Initial Public Offering (IPO) on Wednesday, Bhadra 25. According to the issue manager, Nepal SBI Merchant Banking, the pre-allotment process was completed on Monday.
The company had issued 43,41,080 shares to the general public between Bhadra 11 and 15. The IPO received overwhelming participation, with a total of 25,12,122 applicants submitting bids. In total, applications were placed for 2,98,69,440 shares, equivalent to Rs. 2 arba 98 crore 69 lakh 44 thousand—nearly seven times more than the offered quantity.
Due to the oversubscription, around 20,78,014 applicants will not receive any shares. Only 4,34,108 lucky applicants will be allotted 10 units each through the lottery system.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
