Do the locals believe in the profitability of Chandragiri Hills Limited? This is what the IPO data tells us

Tue, Dec 15, 2020 11:08 AM on Latest, IPO/FPO News,

The IPO issue for locals of Chandragiri Hills Limited is open from Mangsir 17. Chandragiri Hills Limited has issued 3,06,819 units shares to the project-affected locals of Chandragiri Nagarpalika of Kathmandu District and Thaha Nagarpalika of Makwanpur District.

Global IME Capital Limited is the issue manager for the proposed IPO issuance.

Out of the total proposed IPO shares, 3,06,819 units, i.e. 2% of the total paid-up capital is for the locals while 15,34,091 units i.e. 10% of the total paid-up capital will be open for the general public later on. The remaining 88% of shares are held by the major promoters of the company i.e. 1.35 crore units. The final paid-up capital post IPO issue will be Rs 1.534 Arba.

According to the issue manager, the IPO issue has received 2,691 applications from locals for a total of 11,94,680 units. Thus, the issue has received immense optimism from the locals of the area. Since the issue is already oversubscribed, the IPO will close on Poush 1. Locals can still place their applications for a minimum of 10 units and a maximum of 3,060 units till the closing day.

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