SunKund Hydroelectric Limited has completed the allotment of its Initial Public Offering (IPO) issued for Nepali citizens working abroad. The process was conducted by the issue manager, Kumari Capital.
The company had issued 68,967 shares for overseas Nepalis between Poush 9 and Poush 14. A total of 70,457 applications were received, of which 70,445 were deemed eligible. Due to the oversubscription, the allotment was conducted through a lottery system.
Following the lottery, 6,896 applicants were allotted shares. Among them, 7 applicants received 11 shares each, while the remaining recipients received 10 shares each. The rest of the applicants did not receive any shares.
SunKund Hydroelectric plans to issue its IPO to local residents by Poush 23, followed by an IPO offering for the general public. The Nepal Securities Board had approved the company’s IPO issuance on Mangsir 25, 2082 (B.S.).
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
