Prime Commercial Bank established on September 24, 2007 as 21st commercial bank of Nepal, had issued 3000000 units of shares to public including 120000 units to its employees at Rs. 100 per share from 10 to 13 Jestha, 2066 (24 to 27 May, 2009). General public had shown great enthusiasm to apply for the IPO of Prime; as a result it had collected 334305 numbers of applicants demanding 93688750 units of share. Demand was vigorously oversubscribed by more than 30 times as investors believed that primary market is less risky and profitable if allotted in their favor as compared to secondary market. Therefore, people all around Nepal, either with knowledge or without knowledge of equity market apply with a motive to get profit in near future or hold at least some portion of public share of the bank.

IPO of Prime has been allotted on 3^rd August 2009, 68^th day of closing date (one day after Jamb Forecasts) as it had maximum duration of 70 days to allot the public issue. According to SEBON provision on IPO allotment, there is minimum of 40 days and maximum of 70 days to allot the public issue after the closing date. Companies have to allot within 40 days after IPO closing if the number of application is less than 100000. Likewise, if application is between 100000-200000 allotment within 50 days, 200000-300000 within 60 days and if the number of application exceeds 300000, maximum days of allotment will be 70 days. Prime had more than 300000 numbers of applicants, consequently it has allotted on 68th day, two days before its final date of allotment. 

CIT is the issue manager of Prime Commercial Bank. The IPO allotment model of Prime is tabularized below: