Nepal Republic Media IPO result published: 361,989 Applicants Get 10 Units

Nepal Republic Media IPO result was successfully concluded today at Hotel Aloft, Chhaya Center, Thamel, Kathmandu. The company had offered 35,25,930 units valued at Rs 35.25 crores to the general public from Jestha 26-30, 2080.

Nepal Republic Media Limited has an issued capital of Rs. 96.75 crores, out of which 44.99% (43,53,000 unit shares worth Rs. 43.53 crores) were allocated to the general public. Among these shares, 10% (4,35,300 units) were already issued to Nepalese citizens working abroad, 4% (174,120 units) were set aside for the employees of the company, and 5% (217,650 units) were reserved for mutual funds. The remaining 35,25,930 units were made available to the general public.

Nepal Republic Media IPO result

According to Nepal Republic Media IPO result, However, out of the total 3,91,770 units designated for employees and mutual funds, only 2,97,809 units were subscribed, leaving 93,961 units unsubscribed. These 93,961 units were added to the general public allotment, resulting in a total of 36,19,891 units being issued to the general public.

Nepal Republic Media IPO result

Nepal Republic Media IPO result

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Mega Capital Markets served as the appointed issue manager for the IPO issuance. The offering attracted applications from 12,27,569 valid applicants, who collectively applied for 13,241,820 units, oversubscribing the issue by over 3.65 times.

According to the allotment process, a total of 361,989 applicants were allotted 10 units each through a lottery system, and one lucky applicant received an additional unit. Unfortunately, the remaining 8,65,580 applicants were not allotted any units and their applications were returned empty-handed.

Additionally, 6,920 applicants who applied for 92,980 units were disqualified during the process.

Nepal Republic Media Pvt. Ltd., the publisher of Nagarik Nepali Daily, Republica English Daily, and Shukrabar Weekly, became the first media company in Nepal to issue an IPO to the general public.

Established in August 2008 as New Republic Media Private Ltd., the company underwent a conversion to Nepal Republic Media Ltd. in June 2021. Its primary objective is to disseminate news through its various publications. The company was founded by Mr. Binod Raj Gyawali.

The Credit Rating Nepal Limited has assigned an issuer rating of IRN B+ (Is) [Single B Plus (Issuer)] to Nepal Republic Media Limited. This rating indicates a high risk of default concerning the timely servicing of financial obligations.

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