The IPO allotment of Mount Everest Power Development Limited has been completed today at the office of the issue manager, NIMB Ace Capital Limited. As the public offering received applications far exceeding the number of shares available, the allotment was conducted through a lottery system.
According to the allotment results, 142,760 applicants were allotted 10 shares each. The IPO attracted overwhelming investor interest, with a total of 2,862,909 applications seeking 306,555,430 shares. Of these, 2,815,679 applications were deemed valid, while the remaining applications were rejected due to various reasons.
The company had opened its IPO for the general public from Ashadh 3 to Ashadh 8, 2083, issuing 1,427,600 ordinary shares at a face value of Rs. 100 per share, raising Rs. 142.76 million (Rs. 14.27 crore) through the public offering.
With the allotment process now completed, successful applicants can check their allotment status through the CDSC IPO Result portal, MeroShare, or the website of NIMB Ace Capital Limited. The company's shares are expected to be listed on the Nepal Stock Exchange (NEPSE) after completing the required regulatory procedures.
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