Kathmandu. Everest Colour Company has issued its initial public offering (IPO).

Muktinath Capital, the issue manager for the IPO said that the IPO was allotted through lottery as the number of applications exceeded the demand.

The company had issued the IPO from June 22 to 27. The company was issuing 6,55,700 units of shares worth Rs 6.55 million.

A total of 2,687,421 applicants had applied for 2,88,33,720 units of shares. Out of them, 26,41,959 applications have been approved. The rest of the applications have been rejected.

A total of 65,570 people have been allotted 10 units of shares in the IPO.