In the IPO (Initial Public Offering) of Vision Lumbini Energy Company Limited (VLUCL), there has been a significant oversubscription, with applications exceeding 2.85 times the available shares. The company, since last Wednesday, has issued 4,82,717 shares for the general public. Reportedly, 4,82,717 people have applied for these shares.
According to CDS and Clearing Limited, on Friday, between 5 PM and 7 minutes, there was a demand for 5,929,400 shares of the company. Vijaya Lumbini Energy has released 20,75,285 common shares for the general public in the IPO. The company has received applications worth NPR 592,940,000 (approximately 5.92 crores NPR) in this IPO.
picture source : lumbini vision
The company obtained permission from the Nepal Stock Exchange to issue 35,25,000 shares at a 20% discount rate, which is equivalent to NPR 38,25,000. In the first phase, the company had released 19,12,500 shares for the residents of the affected areas. Additionally, they had allocated 1,91,250 shares for Nepali workers abroad. After the issuance, there were 95,625 shares reserved for cooperatives and employee shares, along with 38,250 shares set aside for employees. In total, they have issued 20,75,285 common shares for the general public in this IPO.Interested applicants have the opportunity to submit their applications for this IPO until October 20th.
