IPO Allotment Of Nepal Republic Media Concluded [IPO Result]
June 27, 2023 | Investopaper
IPO Allotment Of Nepal Republic Media Limited
Mega Capital Markets Limited, the issue manager for the initial public offering (IPO) of Nepal Republic Media Limited, has concluded the IPO allotment process on Monday.
After the allotment, 361,989 applicants have received 10 shares each. Out of these, one received an additional share through lottery.
A total of 12,99,727 applicants had subscribed for the shares. With the allotment, more than 9.38 lakh applicants were left empty-handed.
To view the IPO result of Nepal Republic Media Limited, click the link below:
IPO Result Of Nepal Republic Media Limited
Second Phase: IPO To General Public
After the first phase, Nepal Republic Media Limited had issued 39,17,700 shares to the general public, including the employees of the company and the mutual fund schemes. The IPO to general public was open from Jestha 26, 2080 BS.
Due to over-subscription of shares, the public offering was closed on Jestha 30, 2080 BS.
The company had allotted 80,159 shares to the employees of the company and 2,17,650 shares to the mutual fund schemes. Therefore, the general public could participate in the remaining 36,19,891 shares.
Interested investors could apply for a minimum of 10 shares and a maximum of 500 shares.
In total (including first and second phase), the company had sold 43,53,000 shares in the IPO. At a par value of Rs. 100, the public issue amounts to Rs. 43.53 crores.
First Phase: IPO To Foreign Employed Nepalese
In the first phase of the IPO, Nepal Republic Media had issued shares to the Nepalis in Foreign Employment from Baisakh 31, 2080 BS. The company had floated 4,35,300 shares in the first phase (10 percent of the general’s public quota)
The IPO to foreign employed Nepalis was closed on Jestha 14, 2080 BS.
Interested investors ccould apply for a minimum of 10 shares and a maximum of 500 shares.
Securities Board Of Nepal (SEBON) had given approval to the company on Baisakh 11, 2080 BS. The company had submitted the application to the board on Karthik 2, 2079 BS seeking permission for public issuance. Only after the approval from SEBON, the company can issue the shares to the public.
Mega Capital Markets Limited was the issue and sales manager for the IPO.
After the IPO, if fully subscribed, the general public will possess 44.99 percent shares in the company while the promoters will hold the remaining 55.01 percent shares. The paid-up capital will reach Rs. 96.75 crores.
About Nepal Republic Media Limited
Nepal Republic Media Limited was established on 2009 as a private limited company. Later on, it was transformed into a public company to ensure participation of the general public.
The company was founded by Mr. Binod Raj Gyawali, who co-founded Kantipur Publications. In 2008, the Gwayali group split from Kantipur Publications and went on to form Nepal Republic Media.
The company operates two broadsheet daily newspapers– Nagarik (in Nepali) and Republica (in English) along with their online version.
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