KATHMANDU, March 17: Shikhar Power Development Limited has completed the allotment for its initial public offering (IPO), leaving most applicants empty-handed due to overwhelming demand.
The IPO was distributed on Tuesday by the issue and sales manager Global IME Capital. A total of 184,260 applicants received 10 shares each.
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The company had issued 1.842 million units of shares worth Rs 184.26 million. However, the offering attracted applications from 2,687,347 investors—about 15 times the number of available shares.
As a result, 2,466,587 applicants did not receive any shares.
Investors can check IPO results on the Mero Share platform or on the CDSC website.
