Muktinath Krishi Company Limited IPO Allotment Concluded

NIMB Ace Capital Limited, the issue manager for the Muktinath Krishi Company Limited initial public offering (IPO), has concluded the IPO allotment process today (Mangsir 19) at the offices of the issue manager, NIMB Ace Capital Limited, located in Kathmandu.

Muktinath Krishi Company Limited released 11,48,000 units of IPO shares with a par value of Rs 100 to the general public from the 8th to the 12th of Mangsir, 2080. Out of the total 14,00,000 units, 10% (1,40,000 units) were designated for Nepalese citizens employed abroad, 3% (42,000 units) were set aside for company employees, and 5% (70,000 units) were reserved for mutual funds. The remaining 11,48,000 units were made available to the general public.

The IPO garnered a significant response, attracting 12,74,567 valid applicants seeking 1,36,04,910 units, resulting in an oversubscription of more than 11.85 times. Following the allotment process, 1,14,800 applicants were assigned 10 units each through a lottery system, while 11,59,767 applicants were left without any allocation.Unfortunately, 4,300 applicants who applied for 59,880 units were disqualified.

ICRA Nepal has reaffirmed the issuer rating of Muktinath Krishi Company Limited at [ICRANP-IR] BB-, indicating a moderate risk of default regarding the timely servicing of financial obligations.

The IPO result can be checked form CDSC IPO Result, MeroShare, and NIMB Ace Capital Limited.