Kathmandu. Suryakunda Hydro Electric Company Limited (Suryakunda Hydroelectric Company) has been allotted its initial public offering (IPO).

Kumari Capital, the issue manager for the IPO issuance, has issued the IPO today.

The IPO has been allotted shares through a lottery process due to more applications than the demand. A total of 57,243 applicants have been allotted 10 units of shares. 1 applicant has got one more share. One person has 11 shares.

The company had issued 5,72,431 units of shares at a price of Rs 5,72,43,100 each to the general public from February 2 to February 4. A total of 2,452,602 applicants had applied for 2,61,32,800 units of shares in the IPO. A total of 2,411,992 applications have been approved. The rest of the applications have been canceled, according to the sales manager.