Nepal, June 10 -- 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.

Related story Sanvi Energy Ltd IPO opens for general public starting today

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-aff...