Kathmandu, January 29
Nepal Infrastructure Bank has distributed its IPO on Friday. This was the largest IPO any company has offered in Nepal so far as it received nearly 1.5 million applications.
NIFRA had announced its IPO offering 80 million shares worth Rs 8 billion.
According to NIBL Ace Capital, the company which is looking at NIFRA’s IPO, a total of 1,475,080 applicants applied for the shares. NIBLS Capital says that everyone has received the same amount of shares they had applied for; i.e. 10 or 50 units whereas, 492,072 applicants received 10 extra units through a lottery system. A total of 6,276 applicants who applied for 595,440 units were disqualified.
The company was established to undertake significant infrastructure projects. The IPO was oversubscribed 2.21 times.
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