KATHMANDU, Feb 17: The initial public offering (IPO) of Suryakunda Hydro Electric Company has been allotted. The IPO allotment was conducted on Tuesday at the office of the company’s share issue and sales manager, Kumari Capital.
A total of 57,243 applicants received shares of the company at the rate of 10 shares each. During the allotment process, one remaining share was also distributed among the same investors. Accordingly, one applicant received an additional share, making the total allocation 11 shares.
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Applications were submitted for 572,431 shares by 2,452,602 applicants. Of these, 2,411,992 applications were approved, while the remaining applications were rejected.
The company had issued 572,431 shares worth Rs 57.24 million at a face value of Rs 100 per share for general investors from February 1 to 4.
