Muktinath Krishi Company Limited IPO Allotment Concludes: Lucky 1,14,800 Applicants Allotted 10 Units Each via Lottery System
Tue, Dec 5, 2023 9:57 AM on IPO/FPO News, Latest,
The IPO allotment of Muktinath Krishi Company Limited is concluded today at the premises of the issue manager NIMB Ace Capital Limited, Kathmandu.
Muktinath Krishi Company Limited issued 11,48,000 unit IPO shares at par value of Rs 100 to the general public from 8th to 12th Mangsir, 2080.
Out of the total 14,00,000 units; 10% i.e. 1,40,000 units have already been issued to Nepalese citizens working abroad, whereas 3% i.e. 42,000 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 70,000 units have been set aside for the mutual funds. The remaining 11,48,000 units are for the general public.
The issue had received applications from 12,74,567 valid applicants who had applied for a total of 1,36,04,910 units. The issue was oversubscribed by more than 11.85 times.
As per the allotment module, a total of 1,14,800 applicants were allotted 10 units each via lottery and the remaining 11,59,767 applicants were returned with empty hands.
A total of 70,000 units were allotted to the mutual funds and 42,000 units were allotted to the employees of the company.
In total 4,300 applicants who applied for 59,880 units were disqualified.
Allotment Module:
The IPO result can be accessed by CDSC IPO Result, MeroShare, and NIMB Ace Capital Limited.
ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.
Muktinath Krishi Company is an associate company of Muktinath Bikash Bank, the first public agricultural company established in 2075 with the aim of playing a managerial role in the overall agricultural value chain through the "Krishak sanga Muktinath" and "Upabhoktaa sanga Muktinath" campaigns, with the goal of improving Nepal's agricultural economy. The company is providing goods and services in more than 70 districts throughout the country, more than 200 distribution channels, and Agricultural Resource centers.
