Everest Color Limited IPO Allotted; Only 65,570 Applicants Receive Shares

Everest Color Limited had opened its IPO for the general public from Jeth 22 to Jeth 27, offering 655,700 shares at a face value of NPR 100 per share, totaling a worth of NPR 65.57 million. The issue witnessed overwhelming interest from the public, drawing a total of 2,687,421 applicants who vied for an aggregate of 28,833,720 shares. Out of the total submissions, 2,641,959 applications were verified and approved, while the remaining applications were disqualified and rejected during the data verification process. Due to the massive oversubscription—where the total demand exceeded the available shares by over 43 times—the allotment was finalized through a lucky draw (lottery) system in accordance with the prevailing regulatory guidelines. Consequently, only 65,570 lucky applicants were allotted 10 units of shares each, leaving over 2.57 million valid applicants empty-handed.