IPO Shares of Chandragiri Hills Limited is on the way to secondary market

Chandragiri Hills Limited IPO

NEPSE has signed a listing agreement with Chandragiri Hills Limited/ its share registrar. The IPO allotment of Chandragiri Hills Limited concluded a week ago at the premises of the issue manager – Global IME Capital Limited.

Chandragiri Hills Limited had issued 15,34,091 units worth Rs 15.34 crore as Initial Public Offering to the general public from (Poush 24- Poush 28, 2077). Out of the offered 15,34,091 units; 4% of the total offered shares to the general public i.e. 61,364 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 76,705 units have been set aside for the mutual funds. The remaining 13,96,022 units are for the general public. The issue had received applications from 12,11,115 valid applicants who had applied for a total of 2,28,20,210 units. The issue was oversubscribed by more than 16.34 times. As per the allotment module, a total of 1,39,602 applicants were allotted 10 units each via lottery, and the remaining 10,71,513 applicants were returned empty hands.

After the agreement with NEPSE, the shares of Chandragiri Hills Limited will most probably be listed in NEPSE Sunday or Monday next week. Since the shares are already deposited in the Demat accounts of allottees, investors can trade the shares from the very next day of listing.