KATHMANDU, June 18: The IPO allotment of Everest Color has been completed, with only a small fraction of applicants receiving shares due to heavy oversubscription.
The allotment was carried out on Thursday by the issue manager, Muktinath Capital.
According to the results, a total of 65,570 applicants have been allotted shares, with each of them receiving 10 units of shares.
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The company had received an overwhelming response for its public issue, with a total of 2,687,421 applications submitted. Out of these, 2,641,959 applications were found valid and approved for the allotment process.
The IPO had been heavily oversubscribed, as millions of applicants competed for a limited number of shares, resulting in most investors being left without allocation.
Investors can check their IPO results through the Mero Share platform and the CDSC website.
Everest Color had issued its public offering worth Rs 79 million, representing 26.33 percent of its total issued capital of Rs 300 million. The company floated 790,000 units of ordinary shares for the general public.
The IPO witnessed strong retail investor interest, reflecting continued high demand in Nepal’s primary share market despite limited allotment opportunities.
