Mount Everest Power Development IPO Allotment Expected Next Week
The IPO allotment of Mount Everest Power Development Limited is expected to be completed next week. Over 142,000 applicants are likely to receive shares, while the majority of investors may remain empty-handed due to high demand.
Mount Everest Power Development Limited is set to finalize the allotment of its Initial Public Offering (IPO) for the general public next week.
According to issue manager NIMB Ace Capital Limited, preparations are underway to complete the allotment process by Wednesday, July 1 (Ashar 17).
The company had opened its IPO for public subscription from June 17 to June 22 (Ashar 3 to Ashar 8), offering a total of 1.4276 million ordinary shares to general investors.
Based on the number of shares issued, approximately 142,760 applicants are expected to receive shares through the allotment process. Due to overwhelming investor participation, a large number of applicants are likely to miss out on the allotment.
Following the allotment, investors will be able to check their IPO results through the CDSC IPO result portal and other authorized platforms. The company will then proceed with the listing process on the Nepal Stock Exchange (NEPSE), paving the way for secondary market trading.