Trade Tower Limited Set to Allot IPO Shares Today Amid High Demand
Trade Tower Limited’s IPO allotment is happening today following massive oversubscription by over 21 lakh applicants. With demand far exceeding supply, the shares will be distributed via a lucky draw, making this one of the most competitive IPOs in Nepal’s recent market history.
The allotment of Trade Tower Limited’s highly anticipated Initial Public Offering (IPO) is set to take place today at the office of Laxmi Sunrise Capital, located in New Baneshwor. The announcement comes after an overwhelming investor response during the subscription window earlier this month.
From Jestha 14 to Jestha 20, the company had issued 3,296,506 units of ordinary shares to the general public. In response, the IPO attracted an impressive 21,71,154 applicants, with applications totaling over 25.7 million shares a subscription rate nearly eight times the offering.
Due to this significant oversubscription, the allotment will be carried out through a lottery system, a standard method in Nepal’s capital market when demand far exceeds the number of available shares. Based on current projections, only a small fraction of applicants will receive shares, while around 1.7 million investors are expected to be left without allotment.
Today’s allotment will not only determine the lucky shareholders but also mark another milestone in Nepal’s IPO market, which continues to see high participation from retail investors. The result of the allotment is expected to be published later today, after the completion of the official draw.
Trade Tower Limited’s debut in the primary market has generated considerable attention, reflecting growing investor confidence and enthusiasm in the country’s financial landscape.