Share Allocation of Srinagar Agritech Industries Completed

The share allocation process for Srinagar Agritech Industries Limited has been successfully completed. This process was managed by Nabil Investment Banking Limited, which handled the sale and distribution of the shares.

High Demand from Local Residents

A total of 163,125 ordinary shares were offered for sale, specifically for the local residents of Rupandehi and Palpa districts. The offering received significant interest, with 3,786 applicants applying for a total of 489,790 shares. However, the applications from 9 individuals were found to be in the quota reserved for citizens employed abroad. Consequently, their application for 1,330 shares was canceled. After this adjustment, a total of 3,777 applicants with valid applications for 488,460 shares were considered.

Two-Stage Allocation Process

The share allocation was conducted in two stages. In the first stage, applicants were divided into two groups. The first group consisted of 932 applicants who had requested between 10 and 40 shares. Each of these applicants received the exact number of shares they asked for, totaling 20,990 shares. The second group included 2,845 applicants who had requested larger amounts, between 50 and 5,000 shares. Each applicant in this group was allocated a standard lot of 40 shares, resulting in a distribution of 113,800 shares.

Final Lottery Round for Remaining Shares

A second stage was conducted to allocate the remaining shares. From the pool of 2,845 applicants from the second group, 2,838 were selected through a computerized lottery system. From these, 2,833 applicants received an additional 10 shares each, totaling 28,330 shares. The final 5 selected applicants were allocated 5 shares each, adding another 25 shares. This brought the final allocation in the second stage to 28,355 shares, completing the entire process.