Nepal Republic Media IPO Allotment To Be Concluded On Monday; 352,593 Applicants Will Get 10 Units Each

The IPO allotment of Nepal Republic Media Limited will take place on Monday, i.e. on 11th Ashad, 2080. The allotment program will be held at the premises of the issue manager Mega Capital Markets Limited, Kamaladi, Kathmandu at 4 pm.

The issued capital of the company is Rs. 96.75 crores of which 44.99% i.e. 43,53,000 unit shares worth Rs. 43.53 crores were set aside to the general public of which; 10% i.e. 4,35,300 units were issued to the Nepalese citizens working abroad, whereas 4% i.e 174,120 units were set aside for the employees of the company, and 5% of the total offered shares i.e. 217,650 units were set aside for the mutual funds. The remaining 35,25,930 units were for the general public

According to data presented by CDSC, the issue has received approx 13 lakhs applications applying for a total of 1.29 crore units of shares till the last day. Thus, the IPO was oversubscribed by 3.65 times in terms of the number of units through ordinary applicants as of the closing day.

Looking at the data, it is apparent that only 352,593 lucky applicants will get ownership of the company.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned the issuer rating of IRN B+ (Is) [Single B Plus (Issuer)] to Nepal Republic Media Limited. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.