Mountain Energy Nepal Limited's IPO oversubscribed on the first day in terms of applied units

Wed, Nov 11, 2020 5:03 PM on IPO/FPO News, Latest,

Mountain Energy Nepal Limited has opened its IPO for 19,68,027 unit shares from today.

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.

Nabil Investment Banking Limited has been appointed as the issue manager for the IPO issuance.

According to the issue manager Nabil Invest, the issue has received 80,696 applications for a total of 19,17,620 units as of 5 pm today. Thus, the issue is oversubscribed in terms of the total applied units. However, if we see at the number of applicants, there is still room for more investors provided that everyone is allotted 10 units each.