Everest Color Limited IPO Allotted

Kathmandu. The Initial Public Offering (IPO) of Everest Color Limited has been allotted on Thursday. The IPO allotment was completed at the office of Muktinath Capital, the company's share issue and sales manager.

The company had issued 655,700shares of common stock with a face value of 100 rupees per share for the general public from jestha 22 to jestha 27. The total issue amount equivalent to this was 65,570,000 rupees.

In the IPO, 2,687,421 investors had applied for 28,833,720 shares. Out of those, 2,641,959 applications were approved, while the remaining applications were cancelled due to various reasons.

Since the applications exceeded the demand, the shares were allotted through a lottery system. According to the allotment results, 65,570 applicants received 10 shares each of the company. 

Due to the high number of applications, most of the applicants were deprived of receiving shares this time as well.