Kalinchok Hydropower Limited has completed the allotment of IPO shares issued specifically for Nepalis working abroad. The allotment process was conducted on Sunday by the issue manager, RVB Merchant.
The company had issued 82,005 shares from Falgun 13 to 17 for this group of investors. According to the issue manager, applications were received from 83,606 individuals, of which 74,568 applications were deemed valid.
Due to oversubscription, the shares were allotted through a lottery system. Under this process, 8,250 applicants received 10 shares each, while the remaining applicants were unsuccessful.
The IPO issuance had been approved by the Nepal Securities Board on Magh 19, enabling the company to offer shares to Nepalis working abroad.
This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
