Sarwottam allots 50 units of shares to over 55 thousand applicants

KATHMANDU, MARCH 8: The Initial Public Offering (IPO) of Sarbottam Cement Limited has been allotted by its Issue  Manager- Global IME Capital Limited at Naxal in the capital today.

The public shares were sold from Feb 25 to 28. A total of 9,58,959 applicants had applied for a total of 5,05,38,310 units in a valid way.  The issue was oversubscribed by more than 18.20 times.

Amongst the total applicants,  55,521 applicants received 50 units each via lottery and lucky 26 applicants were allotted 1 unit extra via lottery.  The remaining 9,03,438  applicants had to return empty-handed.

Sarwittam Cement had floated 3 million 84 thousand 530 units of shares for subscription.  Among these, 154 thousand 2hundred 27 units each were earmarked for mutual funds and company employees, with the remaining 2 million 776 thousand 76  units offered to the general public.