Kathmandu. Palpa Cement Industries Limited has issued its initial public offering (IPO).

According to Nabil Investment Banking, the issue manager for the IPO issuance.

The company had issued 4.5 million units of shares to the general public at a price of Rs 100 per share.

A total of 2,413,517 applicants had applied for 2,63,10,970 units of shares in the IPO. Out of which 23,76,705 applications have been approved. A total of 450,000 applicants have been allotted 10 units of shares.

The IPO was allotted through a lottery process due to more applications than the demand.