Mt Everest Power local IPO allotment, some applicants get 10 more shares

Kathmandu, 20 June. The IPO allotment of Mount Everest Power Development Limited issued for the residents of Solukhumbu project affected areas has been completed. In allotment, most of the applicants have received shares as per demand, while some investors have received up to 10 more shares through rounding. Sales manager NIMB S Capital distributed 880,000 IPO shares issued for project-affected locals on Wednesday morning. The company distributed the shares to the residents of Solukhumbu's Solu Dudhkunda municipality by dividing them into highly affected and affected categories.

All the investors who have applied for up to 150 shares under the most affected areas have received the shares as per the demand. Those who applied for more than 150 shares were also distributed at the rate of 150 shares. 292 applicants got 10 more shares when the remaining shares were distributed through round robin, due to which some investors in this category got a maximum of 160 shares. Similarly, those who applied for up to 60 shares towards the affected category have received shares as per their demand. Those who apply for more than 60 shares are also allotted at the rate of 60 shares. Since 1,777 applicants received 10 more shares in the subsequent rounding process, this group has a maximum of 70 shares.

With the completion of the process of allotment of shares to the local residents, the company has now started preparations for the IPO issue for the general public. The company opened the IPO sale for the residents of the project-affected areas from 17th May to 31st May.