KATHMANDU, March 25: The IPO of Om Megashree Pharmaceuticals has been allocated. The issue manager, Prabhu Capital, conducted the IPO allocation on Tuesday.
A total of 147,600 applicants received 10 shares each in the IPO. The company issued 1.476 shares to the general public from March 11 to March 16.
Out of 2.056 million applications, 1.848 million applications were approved, according to the issue manager. Among the applicants, 1.769 million were left empty-handed.
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The company had received permission from the Securities and Exchange Board of Nepal (SEBON) to issue a total IPO of 1.8 million shares worth Rs 180 million, which will be 30 percent of the issued capital of Rs 600 million.
After allocating shares in the first phase to foreign workers, mutual investment funds and employees, the company allocated shares to the general public in the second phase.
The company had allotted 180,000 shares worth Rs 18 million to those employed abroad. Similarly, the company has already allotted 90,000 shares to mutual funds and 54,000 shares to employees.
Om Megashree is a company involved in the production and processing sector. The company, which was established last year with an investment of around Rs 1.25 billion, has been manufacturing pharmaceutical drugs.
The IPO results can be viewed on the company's website and Prabhu Capital's website. Additionally, the results can also be checked on the CDS and Clearing website.