Bungel Hydro Limited has completed the first phase of IPO allotment for Nepalis working abroad.
The company had offered a total of 207,500 shares to Nepalis who have a labor permit from the government to work overseas. The IPO was open from Ashar 29 to Shrawan 11.
Out of all applicants, 20,750 people received 10 shares each. The remaining applicants did not get any shares. The allotment was done on Shrawan 26, and the results are now available online. The company has also said that refunds for those who did not get shares will start from today.
