KATHMANDU: The IPO of Chandragiri Hills will be distributed on Friday. Global IME, the company’s issue manager, said in a statement that Hills’ IPO would go public on Friday.

A total of 1,256,746 persons had applied for the company’s IPO. Of them, 45,631 applications have been rejected and only 1,211,115 applications have been received.

The company had issued a total of 1,396,022 shares at the rate of Rs 100 face value per unit on December 8.

As there are more applications than demanded, only 139,600 out of the eligible applicants will get 10 units of shares per head in line with the securities’ allotment guidelines. The remaining 1,071,515 people will go empty-handed.