Kathmandu. Hotel Forest Inn Company has issued an initial public offering (IPO).

According to AIC ASIA Capital, the issue manager for the IPO issuance, the company has issued the IPO today.

According to the company, the IPO was allotted through a lottery process as it received more applications than the demand. A total of 3,32,000 applicants have been allotted 10 units of shares.

The company had issued 3,320,000 units of shares to the general public at a price of Rs 100 per share.

A total of 26,60,452 applicants had applied for 2,99,78,860 units of shares in the IPO. Out of these, 2,371,315 applicants have been approved while the remaining applications have been rejected, according to the issue manager AIC ASIA Capital.