Mount Everest Power Development Limited is set to allot its Initial Public Offering shares to the general public next week. The issue manager for the public offering, NIMB Ace Capital Limited, is making active preparations to finalize the share allotment by Wednesday, Asar 17.
The company had opened the subscription window for the public issue from Asar 3 to Asar 8. During this subscription period, Mount Everest Power Development Limited offered a total of 14,27,600 unit shares to the general public.
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Allotment Details and Share Distribution
According to the distribution guidelines, a total of 1,42,760 applicants will receive 10 shares each through the lottery process. Due to the high volume of applications received during the subscription period, a large number of applicants will not be allocated any shares.
The issue manager is currently performing the necessary data verification and pre-allotment tasks to ensure a transparent lottery process. Once the allotment is officially concluded, applicants can verify their status through the MeroShare portal, the website of NIMB Ace Capital, or the company’s official portal.
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