Trade Tower Limited has successfully allotted shares for its Initial Public Offering (IPO) to the general public. The company issued 32,96,505.19 shares, worth Rs 32.96 crores, at Rs 100 per share.
The first phase of the IPO was previously opened for Nepalese workers living abroad. The Trade Tower’s second phase IPO was opened to the general public from Jestha 14 to Jestha 20, 2082.
Share Distribution Breakdown
Out of the total 3,97,169.30 shares offered:
- 10% (3,97,169.30 shares) were already allotted to Nepalese workers living abroad.
- 2% (79,433.86 shares) were set aside for company employees.
- 5% (1,98,584.65 shares) were reserved for mutual funds.
- The remaining 32,96,505.19 shares were made available to the general public.
Allotment Process and Oversubscription
The second phase of the IPO was oversubscribed by 7.31 times. The company received 2,074,285 valid applications, while 14,897 applications were invalid.
Through a lottery process:
- 329,650 applicants received 10 shares each.
- 5 applicants received 1 share each.
- 1 applicant was allotted 0.19 shares.
Conclusion
Trade Tower’s IPO allotment shows strong investor interest and growing confidence in the company. This allotment process marks a significant step forward for its financial future.
