IPO Allotment of Muktinath Krishi To Be Concluded on Tuesday; Lucky 1,14,800 Applicants Will Get 10 Units Each

The IPO allotment of Muktinath Krishi Company Limited will take place this Tuesday, i.e. on 19th Mangsir, 2080. The allotment program will be held at the premises of the issue manager NIMB Ace Capital Limited, Kathmandu.

Out of the total 14 lakh units; 10% i.e. 1,40,000 units have already been allotted to Nepalese citizens working abroad, whereas 3% i.e. 42,000 units were set aside for the employees of the company and 5% of the total offered shares i.e. 70,000 units were allocated for the mutual funds. The remaining 11,48,000 units were issued to the general public at a par value of Rs. 100.

According to CDSC, 10,57,828 applicants applied for a total of 1,15,23,150 units worth Rs. 1.15 Arba as of closing day. Thus, the issue was oversubscribed by 10.03 times so far.

Looking at the data, it is apparent that only 1,14,800 lucky applicants will get ownership of the company.

ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.