Investors are eagerly waiting for the IPO allotment of Sagar Distillery. The issue manager, Muktinath Capital, has confirmed that the allotment will take place before the Dashain festival.
Verification in progress
The data verification process is currently ongoing. Once it is completed, the company will move ahead with the allotment.
By the final day, 23,52,493 people applied for shares worth Rs. 2.65 billion. But only 1,19,064 lucky applicants will actually receive 10 shares each. This means over 22 lakh people will not get shares.
Since the demand was far greater than the available supply, the company will use a lottery system to decide who gets the shares.
The company was approved to issue 14,52,000 shares, which is 20 percent of its paid-up capital of Rs. 72.60 crore. Out of this, 1,45,200 shares were already allotted to Nepalis working abroad. Similarly, 72,600 shares went to mutual funds and 43,560 shares were reserved for company employees. The remaining 11,90,640 shares were offered to the general public.
