Sanvi Energy Ltd completed allotting its IPO shares on Monday.

Nepal SBI Merchant Banking, the issue manager, conducted the allotment at its office, where it selected 241,530 applicants through a lottery to receive 10 shares each.

According to the issue manager, 2.043 million individuals applied for the IPO. Of them, it approved 2.030 million applications and rejected 3,674.

The company had opened the IPO for the general public from May 23 to May 27. It issued 2.415 million shares worth Rs 241.53 million at a face value of Rs 100 per share.

The company had earlier issued 880,000 shares worth Rs 88 million to local residents of the project-affected areas and 291,000 shares worth Rs 29.1 million to Nepali citizens working abroad with labor approval from the relevant authority of the Government of Nepal.

Similarly, the company has already allocated 145,500 shares for mutual funds and 58,200 shares for employees working in the company.

Investors can check the IPO results through the website of the issue manager, Nepal SBI Merchant Banking, as well as through their Meroshare account.