Bandipur Cable Car & Tourism Limited has set the allotment date for its postponed IPO, with millions of applicants competing for limited shares.
Bandipur Cable Car & Tourism Limited’s initial public offering (IPO) allotment, which had been postponed due to high public interest, is now scheduled. According to the issue manager, Nepal SBI Merchant Banking, the allotment will take place tomorrow, Bhadra 30 (Monday) at 4:00 PM. The allotment was initially planned for Bhadra 25 but was deferred following disruptions caused by the recent Gen Z demonstrations.
The company had issued 4,341,080 shares to the public from Bhadra 11 to 15. A total of 2,512,122 applicants submitted applications, generating total demand worth NPR 2,986,944,000 for 29,869,440 shares. This means the IPO was oversubscribed by nearly seven times.
Due to the high oversubscription, around 2,078,014 applicants will not receive any shares. A total of 434,108 successful applicants will be allotted shares, with each receiving 10 shares.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
