Bandipur Cable Car IPO Allocation Set for Tomorrow!
Breaking news for all investors! The highly anticipated Bandipur Cable Car and Tourism Limited IPO allocation is scheduled to take place tomorrow! According to Nepal SBI Merchant Banking Limited, the IPO allocation will be finalized at 4 PM tomorrow.
This initial public offering (IPO) has generated significant buzz, with a massive number of applicants vying for a piece of the pie. A staggering 2,986,944,000 rupees worth of applications has been received! A total of 2,98,69,440 shares have been applied for by 2,512,122 applicants. However, there will be many disappointed investors, as 2,078,014 individuals will unfortunately not receive any shares. A total of 434,108 investors will receive 10 shares each.
The company received permission from the Securities Board of Nepal on June 29th to issue a total of 5,860,000 shares at a price of 100 rupees per share. Previously, the company had already allocated shares to locals affected by the project, offering 566,000 shares. Also, 529,400 shares were issued to Nepalis working abroad with labor permits from the Government of Nepal.
Following the allocation to the affected locals, the company moved to the second phase, offering the IPO to the general public. Additionally, 264,700 shares were set aside for mutual funds, and 158,820 shares were reserved for the company’s employees. The remaining 4,341,080 shares were then offered to the general public.
Stay tuned for further updates on the Bandipur Cable Car IPO and other crucial market analysis as the allocation progresses. This investment opportunity has been highly anticipated, so be sure to keep an eye on the results!
