Mountain Energy Nepal Limited is closing the IPO issue of 19,68,027 unit shares to the general public from today (Mangsir 3). This issue was opened on Kartik 26 and is already over-subscribed.
Out of the offered 19,68,027 units, 2% of the total offered shares have been set aside for the employees of the company and 5% has been set aside for the mutual funds. The remaining 18,30,265 units are for the general public.
According to the issue manager Nabil Investment Banking Limited, the issue has received 4,07,376 applications for 84,84,960 units. This is the real-time data as of 10:30 am on the last day. The issue will close after banking hours today. Thus, the issue is already oversubscribed by 4.31 times in terms of the total units for which applications are received. If one looks at the number of applicants, the issue received significant interest from investors, given that only 1,83,026 applicants will get 10 units each.
After the issuance of the IPO, the paid-up capital will increase to Rs 1.96 Arba and the promoter/public shareholding ratio will be 80:20.