Preallotment of Mountain Energy IPO concluded: Main Allotment on Wednesday

Sun, Nov 29, 2020 3:36 PM on IPO/FPO News, Featured,

The pre allotment of the IPO issued by Mountain Energy Nepal Limited has concluded today.

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. However, it should be noted that some applications have been rejected for various reasons.

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.

According to the issue manager, the main allotment will be done this Wednesday, i.e. Mangsir 17.