IPO Allotment Update: (Mountain Energy Nepal Limited) and (United IDI-Mardi and R.B. Hydropower Limited)

(Mountain Energy Nepal Limited) and (United IDI-Mardi and R.B. Hydropower Limited) have both closed their IPO issue already.

Mountain Energy Nepal Limited closed the IPO issue of 19,68,027 unit shares on Mangsir 3. The issue was open since Kartik 26. According to the issue manager Nabil Invest, the IPO received 6,74,416 applications for a total of 1,39,44,410 units. Thus, the issue is oversubscribed by 7.62 times in terms of the volume of units issued. 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 via lottery.

When Sharesansar called one of the representatives of the issue manager, he said that they are finalizing the data today. Apparently, Nabil Invest struggled with data duplication this time. Since the compilation and processing of data are at the last stage, investors can expect to have the shares allotted next week.

On the other hand, United IDI-Mardi and R.B. Hydropower Limited closed the IPO issue of 8,73,910 units (including 2,43,910 units unsubscribed by locals) on Mangsir 7, 2077. This IPO issue was opened from Mangsir 3. According to the issue manager Global IME Capital, the issue received 5,57,289 applications for a total of 1,00,69,000 units. Thus, the issue is oversubscribed by a little over 12.3 times. However, note that this is the data as of 4:30 pm on the last day. The final data might have changed after the entire processing, not to mention, some applications have been rejected.

According to the issue manager, the pre allotment is already completed. They are prepared to allot the shares immediately after the Board's approval. Investors can expect to have the shares allotted coming Sunday or Monday, fingers crossed.

Nonetheless, it is safe to say that both IPOs will be allotted coming week.