IPO of Chandragiri Hills Closes With 12,51,938 Applicants; Issue Oversubscribed 17.5 times

Chandragiri Hills Limited IPO

The IPO issue of Chandragiri Hills Limited has concluded. The issue had opened from Poush 24.

With this, the company has issued 15,34,091 units as IPO to the general public at the par value of Rs. 100 per share to raise a capital worth Rs. 15.34 crores. The company issued a total of 15,34,091 units of shares. A total of 61,364 units (4% of total issue) worth Rs. 61.36 lakhs were segregated for the employees of the company and 76,705 unit shares for mutual funds. The remaining 13,96,022 unit shares were for the general public.

Global IME Capital Limited is the issue manager for the IPO issue for the general public. According to the issue manager, the issue has received applications from 12,51,938 applicants for a total of 2,44,29,840 units. This is the final data reported after the issue closed at the end of banking hours today. Thus, the issue is oversubscribed over 17.50 times in terms of the number of units applied. Furthermore, it was already confirmed on the first day itself that 10 units will be allotted via lottery.

Chandragiri Hills is a quick getaway just 7 km away from Thankot, Kathmandu. Established with a mission to create an “integrated tourist destination,” the area has its historical significance as well. It was established in 2009 and is located in Chandragiri hills. This project provides cable car services to the peak of the hill with religious importance, parks, and restaurants.