Sonapur Minerals and Oil IPO Allotment To Be Concluded on Wednesday; 973,254 Applicants Will Get 10 Units Each

The IPO allotment of Sonapur Minerals and Oil Limited will take place this Wednesday, i.e. on 24th Ashwin, 2080. The allotment program will be held at the premises of the issue manager NIMB Ace Capital Limited, Kathmandu at 9 AM.

Out of the total 12,165,680 units; 10% i.e. 1,216,568 units were allotted to Nepalese citizens working abroad, 608,284 units were set aside for the mutual funds while 608,284 units were set aside for the employees of the company. The remaining 97,32,544 units were for the general public.

The shares were issued for the general public at a price of Rs. 237.58 (Rs. 100 face value + Rs. 137.58 premium price).

According to CDSC, 11,14,697 applicants applied for a total of 1,47,73,900 units worth Rs. 3.50 Arba as of closing day. Thus, the issue was oversubscribed by 1.51 times so far.

Looking at the data, it is apparent that only 9,73,254 lucky applicants will get ownership of the company.

Infomerics Credit Rating Nepal Limited (Infomerics Nepal) has assigned a long-term rating of IRN BBB-(Triple B Minus) to the long-term bank facilities and a short-term rating of IRN A3 (A Three) to the short-term bank facilities.