Kathmandu. Shikhar Power Development Company has issued an initial public offering (IPO).

According to Global IME Capital, the issue manager for the IPO issuance, the company has issued the IPO to the general public today.

The IPO was allotted through a lottery process as there were more applications than the demand. A total of 1,84,260 people got 10 units of shares each.

The company had issued 1,842,600 units of shares at a price of Rs 100 per share to the general public on March 1 to 12.

A total of 2,687,347 applicants had applied for 2,88,16,990 units of shares in the IPO. Out of them, 2,650,847 applications have been approved and 36,500 applications have been rejected.