Palpa Cement IPO Allocation Completed, 450,000 Applicants Receive Shares

Palpa Cement Industries Limited has completed the allocation of its IPO.

The IPO allocation was conducted at the office of the company’s share issuance and sales manager, Nabil Investment Banking Limited. The company had issued 4.5 million shares with a face value of NPR 100 each for the general public from Falgun 12 to 15.

A total of 2,413,517 applicants applied for 26,310,970 shares, of which 2,376,705 applications were approved, and the remaining applications were rejected. A total of 450,000 applicants received shares at the rate of 10 shares per applicant.