24th November 2023, Kathmandu
NIMB Ace Capital Allotment, under its management, has successfully completed the share process for Muktinath Krishi Company Limited.
The company had issued a total of 1,400,000 shares to the public, with 20% of the total issued capital, amounting to Rs. 14,00,00,000, allocated for ordinary shares.
As part of this issuance, 10% (140,000 shares) was made available at the rate of Rs. 100 per share specifically for Nepalese labor working abroad with approved labor permits. The application window was open from 2080/07/10 to 2080/07/24.
The issuance and sales manager at NIMB Capital Limited, located in Lazimpat, Kathmandu, oversaw the allotment program. The share allotment process was concluded on 2080/08/07 at 10:00 AM.
NIMB Ace Capital Allotment
The company received an overwhelming response with a total of 31,196 applications for the purchase of 140,000 shares. However, two applications for 30 shares each were declared invalid. Out of the remaining 31,194 applicants, direct applications for 723,040 shares were received, indicating a demand surpassing the available issued shares.
Given the minimum allocation requirement of 10 shares per applicant, a lucky draw was conducted in accordance with the Securities Issuance and Allotment Directive, 2074. Subsequently, 14,000 successful applicants were randomly selected, and a total of 140,000 shares were allocated.
Muktinath Krishi Company
This marks a significant milestone for Muktinath Krishi Company Limited and demonstrates the strong investor interest in the company’s shares. The successful completion of the allotment process reflects the adherence to regulatory directives and a fair and transparent allocation mechanism.
Investors and stakeholders are now eagerly anticipating the next steps as Muktinath Krishi Company Limited continues its journey with newfound support from a diverse group of shareholders.