Chandragiri Hills Limited has allotted its shares to the locals via IPO. The allotment program was successfully concluded yesterday at the premises of the issue manager Global IME Capital in Naxal, Kathmandu.
The IPO issue for locals of Chandragiri Hills Limited was open from Mangsir 17. Chandragiri Hills Limited had 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 was 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 was 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 allotment module, the IPO issue received 4,808 total applications from locals for a total of 16,94,990 units. 204 applications were rejected. Thus, 4,604 valid applications for 16,81,130 units qualified for the allotment. Locals applying for the IPO have received shares from 10 units to 80 units per individual.
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