IPO Allotment of Shreenagar Agritech Industries Limited Taking Place Today at 10:30 AM

The IPO (Initial Public Offering) allotment of Shreenagar Agritech Industries Limited is being held today, Wednesday, 12th Kartik, starting at 10:30 AM.

According to the issue manager, Nabil Investment Banking Limited, the allotment process will begin this morning at the company’s office.

The IPO of Shreenagar Agritech received an overwhelming response from investors. By the closing date on 29th Ashwin, a total of 1,942,682 applicants had applied for 21,702,080 units of shares.

This is approximately 6.64 times more than the 2,510,493 units of shares issued to the general public. As the issue was oversubscribed, the allotment will be conducted through a lottery (lucky draw) system.

Earlier, the company had already completed share issuance and allotment to project-affected local residents and Nepalis working abroad.

Once the allotment is completed, the allotted shares will be credited to investors’ demat accounts, and the company’s shares are expected to be listed on NEPSE within the coming days.