Sonapur Minerals and Oils concluded its IPO of 12.16 lakh unit shares floated for migrant Nepalese workers; over 30K valid applicants receive shares at premium price of Rs 237

Sonapur Minarals and Oil has allocated its IPO that was issued under the management of NIM Ace Capital to the Nepalese under foreign employment on Ashoj 2, 2080.

The company had floated 12.16 lakh unit shares to the migrant Nepalese at a premium price of Rs 237.58. The issue had received applications from 30,348 valid applicants for 16.92 lakh unit shares for which 10,591 applicants received the shares between 10 to 40 units as per their demand. Other 19,757 applicants demanding between 50 to 3000 unit shares received 40 unit shares while the lucky 10,022 applicants received additional 10 unit shares, as per the media statement. Finally, one applicant who applied between 60-to-3000-unit shares received an additional 8 unit shares, as per the media statement.