Shreenagar Agritech Industries Completes IPO Allotment for Project-Affected Locals

Shreenagar Agritech Industries Limited has completed the allotment of ordinary shares issued for project-affected locals of Rupandehi and Palpa districts.

Under the issuance and sales management of Nabil Investment Banking Limited, the company had floated 163,125 units of ordinary shares at a par value of Rs. 100 each. The IPO for locals was open from Bhadra 11 to Bhadra 25, 2082. However, due to the Gen-Z movement and subsequent prohibitory orders/curfews imposed by the local administration on Bhadra 23, collection centers remained closed for two days. The application deadline was therefore extended until Bhadra 30 and 31.

A total of 3,777 applicants submitted valid applications, and as per prevailing regulations, the allotment was conducted on Ashwin 9, 2082 (Thursday).

Allotment details can be viewed on the official website of Nabil Investment Banking (www.nabilinvest.com.np). Likewise, refunds for applicants who received partial or no allotment will be deposited into their respective bank accounts starting from Ashwin 12, 2082 (Sunday).

With this allotment, project-affected locals of Rupandehi and Palpa have officially received ownership in the company.