Everest Colour IPO Allotted, Over 65,000 Applicants Receive Shares

The IPO of Everest Colour has been allotted. The allotment was conducted on Thursday at the office of the issue manager, Muktinath Capital. The company had issued 655,700 shares worth Rs 65.57 million to the general public from Jestha 22 to Jestha 27 at a face value of Rs 100 per share.

A total of 2,687,421 applicants had applied for 28,833,720 shares in the IPO. Out of the total applications, 2,641,959 were approved, while the remaining applications were rejected. Since the issue was oversubscribed, the IPO was allotted through a lottery system. As a result, 65,570 applicants received 10 shares each.