Kalinchowk IPO: up to 260 units fall under lottery; allotted at 3.4% up to Rs50 K; 2.95% above Rs50 K

ShareSansar, September 21:

The allotment of Initial Public Offering (IPO) worth Rs 4.9 crore of Kalinchowk Development Bank Limited took place at 10:00 AM, Saturday at the office of Growmore Merchant Banker Limited, Durbar Marg in Kathmandu.

According to Growmore, the IPO was allotted proportionately at 3.4 percent to those who applied up to 500 units and at 2.95 for those who applied more.

However, those who applied for up to Rs 260 units fell under lottery.

The IPO which closed on August 12 had been oversubscribed by 30 times.

Of the total 4.9 lakh units of ordinary primary share floated since August 6, altogether 9,800 units were allocated for the staff and 24,500 units for the mutual fund.

The development bank is “B” class bank based in Dolakha district and is functional in three districts that are Dolakha, Sinduli and Ramechhap.