Over 2.7 Million Apply for Sopan Pharmaceuticals IPO: Are You Among the Lucky 3.47 Lakh Winners?
Sopan Pharmaceuticals has finalized its IPO allotment, distributing 10 shares each to 347,490 successful applicants through a lottery system. The issue saw massive interest with over 2.7 million valid applications submitted for the available shares.
The IPO allotment for Sopan Pharmaceuticals Limited was finalized today at the office of NMB Capital Limited in Baluwatar, Kathmandu. Out of the company's total public offering of 4,290,000 units, 3,474,900 shares were designated for the general public. The remaining shares had been previously set aside for Nepalese citizens working abroad, company employees, and mutual funds. The offering attracted a massive response, with 2,730,987 valid applications seeking a total of 29,906,520 units, while over 37,000 applications were disqualified. Due to the high demand, a lottery was conducted, resulting in 347,490 applicants receiving 10 shares each. Investors can verify their allotment status through the CDSC IPO result portal, MeroShare, or NMB Capital's website. Notably, CARE Ratings Nepal recently upgraded the company's issuer rating to 'CARE-NP B', which still indicates a high risk of default. Established in 2009, Sopan Pharmaceuticals operates a manufacturing facility in Lalitpur and holds licenses for 139 different drug types.