Kathmandu. Om Megashree Pharmaceuticals’ IPO has been oversubscribed by 16 times till the last day of its issuance.
The company has opened the IPO sale to the public since last Falgun 27. The application for this IPO was allowed till yesterday, Chaitra 3.
The company had received permission to issue 1.8 million shares worth Rs 180 million in IPO, which will be 30 percent of its issued capital of Rs 600 million. Out of this, 10 percent has already been issued and distributed to Nepalese working abroad, with a total of 180,000 shares worth Rs 18 million.
The company has already distributed 54,000 shares to company employees and 90,000 shares to mutual funds. In the second phase, the company had issued 1,476,000 shares to the general public.
According to the CDSC, till the last day, 1,888,836 applicants have applied for 23,691,510 shares in this IPO. Which is 16.05 times more than the demand.
This IPO will be distributed through a lottery system due to the oversubscription. In which 147,600 lucky applicants will get shares at the rate of 10 units.
Prabhu Capital is the company’s securities sales manager.
