Bandipur Cable Car IPO Allotted to 4.34 Lakh Applicants via Lottery
Bandipur Cable Car IPO sees oversubscription with 24.22 lakh applications; 4.34 lakh investors allotted 10 shares each through lottery.
Bandipur Cable Car & Tourism Limited has concluded the allotment of its Initial Public Offering (IPO) on Monday, 30th Bhadra, at the office of its issue manager, Nepal SBI Merchant Banking Limited.
The company had floated 43.41 lakh shares worth Rs. 43.41 crore at a face value of Rs. 100 each for the general public from 11th to 15th Bhadra. The offering drew overwhelming demand, with 24.22 lakh applicants requesting a total of 2.76 crore shares—an oversubscription by more than six times.
As demand far exceeded supply, shares were distributed through a lottery system. According to the issue manager, 4.34 lakh applicants were allotted 10 shares each. The remaining investors were left without allotment.
The oversubscription highlights strong retail investor appetite in Nepal’s capital market despite recent political and economic uncertainties. Market observers note that cable car and tourism-related companies continue to attract widespread retail interest due to their perceived growth potential.