Bandipur Cable Car & Tourism Limited will conduct its postponed IPO allotment today, with more than 2.5 million applicants competing for limited shares.
Bandipur Cable Car & Tourism Limited has finalized the date for its initial public offering (IPO) allotment. According to the issue manager, Nepal SBI Merchant Banking, the allotment will take place today, Bhadra 30 (Monday) at 4:00 PM. The process was initially scheduled for Bhadra 25 but was postponed due to the recent Gen Z demonstrations.
The company had issued 4,341,080 shares to the general public from Bhadra 11 to 15. The IPO received overwhelming participation, with 2,512,122 applicants submitting requests. In total, applications were placed for 29,869,440 shares, equivalent to NPR 2,986,944,000.
The offering was oversubscribed by nearly seven times. As a result, around 2,078,014 applicants will not receive shares. A total of 434,108 successful applicants will each be allotted 10 shares.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
