Bandipur Cable Car IPO Closes Today: Application Status!

Bandipur Cable Car & Tourism Limited’s IPO is closing today (Bhadra 15). The company had opened its public issue on Bhadra 11.

Under this IPO, the company has issued 4,341,080 shares for the general public. Investors can apply for a minimum of 10 shares and a maximum of 20,000 shares. Nepal SBI Merchant Banking Limited is the issue manager.

Earlier, the company had already issued shares to project-affected locals of Tanahun and Gorkha districts, as well as to Nepalis working abroad. Nepal Securities Board had approved the IPO on Ashad 19, allowing the company to issue a total of 5.86 million shares worth Rs. 586 million.

According to CDSC, by Saturday evening, 2,131,070 applicants had applied for the IPO, demanding a total of 25.5 million shares worth Rs. 2.55 billion. This is about 58.73 times more than the shares available for the general public.