Shikhar Power Development Limited’s Initial Public Offering (IPO) for Nepalis working abroad was allotted today, with Global IME Capital acting as the issue manager. The company had issued 2,22,000 shares from Magh 6 to Magh 9, 2082 B.S., specifically for Nepalis working abroad.
According to Global IME Capital, the IPO received 71,589 applications, of which 71,577 were deemed eligible. As the number of applications exceeded the shares available, the allotment was conducted through a lottery system. In the end, only 22,200 applicants received shares at 10 shares per applicant, while the remaining applicants did not receive any shares. The final IPO results will be published shortly.
The Securities Board of Nepal (SEBON) had granted the company permission for the IPO on Poush 16, 2082 B.S. As per SEBON’s approval, the company plans to issue a total of 32 lakh shares worth Rs. 32 crore.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
