Just when the secondary market in the country was predicted to enter a bull market, the primary market of the country seems to have come up with a new problem. Recently five IPOs and one mutual fund scheme are being issued in the country namely Sanjen Hyropower, Rasuwagadhi Hydropower, Nepal Agro Laghubitta, Ganapati microfinance, Union hydropower and Nabil Balanced Fund 2. However, the mero share website where investors can apply for IPOs online is getting technical disturbances. Primary investors are not able to apply in those IPOs.
The official from CDSC claims that the issue has been addressed and the condition is at least improved than that of the earlier day. Moreover, the source also acknowledged that the website was not initially developed to cater the volume for such big number of IPO issues. However, the source from CDSC reassured that they have been putting in resources and trying to manage the situation. There might be certain instances when website might not function in the first attempt so, investor has to try at the second attempt. Furthermore, CDSC also told ShareSansar that postponing the closing date is not in the hand of CDSC and that would be an alternative only if the website had been completely crashed down. However, since mero share has been getting applications for the issue, CDSC does not plan to increase the issue days. Finally, the source also claimed that the situation has been far better since 10:30 to 10:00 am this morning.
Two big hydropower IPOs; Sanjen and Rasuwagadhi will close today, Nepal Agro Laghubitta, Ganapati Microfinanace and Union Hydropower issue will close tomorrow and day after. Investors have no alternative other than reloading the website.
Investors have faced a lot of technical glitches in NEPSE and the stock market knows the consequences very well. Is mero share resembling the features from NEPSE?