Kathmandu. On the last day of the IPO of Hotel Forest Inn Limited, the number of applications has been almost 8 times more than the demand. The company has invited applications for 33,20,000 units of shares at a face value of Rs 100. As of the last day, 2,330,086 applicants have applied for 2,63,60,500 units of shares worth Rs 2,63,60,50,000.
NIC Asia Capital has been appointed as the issue manager for the IPO issuance. As per the SEBON’s policy of allocating 10 units of shares, 3,32,000 investors will get shares while 1,998,086 will be left empty-handed.
The company is issuing a total of 33,20,000 units of shares at a face value of Rs 100 to the general public from February 5. The company has set aside 2 Lakh units for the mutual fund and 80,000 units for its staff.
