IPO Allotment of Commerz And Trust Bank Nepal Limited

Mon, Mar 25, 2013 12:00 AM on IPO/FPO News,
IPO Allotm...

Commerz and Trust Bank Nepal Limited has successfully allotted its 60,00,000 kitta Ordinary Share today at the allotment function organized at Hotel Annapurna, Durbarmarg. Out of the 60,00,000 kitta; 3,00,000 kitta each are allotted for mutual funds and bank staffs and remaining 54,00,000 kitta are allotted to the general public.

Altogether, 70,760 applicants have applied for 6,81,80,500 kitta; out of which small investors (applicants applying less than or equal to 500 kitta) numbering 59,388 applicants have applied for 1,96,89,220 kitta got 10.97% of their investment; on the other hand big investors (applicants applying more than 500 kitta) were 11,372 applicants who have applied for 4,84,91,280 kitta got 6.68% of their overall investment.

An allotment of 50, 60, 70 and 80 kitta applicants were conducted as per the lottery system. And the allotted applicants were given 10 kitta from the each mentioned category.

As per the SEBON IPO allotment directives, small investors provide 40% of the overall issue whereas big investors get 60% of the total issue amount.

As per the company, there were 90 applicants whose 68,868 kitta got invalid. And the number of staff applicants stands 202 in total.

Earlier, banks have closed its IPO issue on 10th Falgun 2069 with an overwhelming response from the general public with issue oversubscribed by more than 11 times. Commerz And Trust  has appointed Civil Capital Market Limited, Citizen Investment Trust, Growmore Merchant Banker Limited and Nabil Investment Banking as its issue manger to manage this issue.