Radhi Bidyut Company Limited (RBCLL) has allocated its 7,64,550 units Initial Public Offering (IPO) shares worth Rs 76.4 million (Rs. 7.64 crores) today Wednesday morning inside Nabil Investment Banking premises in Naxal, Kathmandu at 9:00 AM. According to Nabil Investment Banking Limited, the issue manager of the IPO, out of 1,64,990 valid applicants, only 71,102 applicants were provided a minimum of 10 unit mandatory shares through the lottery system and one lucky applicant was allotted with 11 unit shares.
Of the total 1,66,317 applications, 1,327 were canceled due to double application, mistakes in Demat account number and application made for more or less than mentioned kitta. Nearly 95,214 applicants were unable to receive the IPO. Also, mutual funds were allotted with 38,228 unit (5%) shares and staffs of the company were allotted with 15,291 unit (2%) shares. The remaining 711,031 units (93%) were issued to the general public.
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