NEPSE First-Day IPO Watchlist

How the first-day auction works

1. New IPO trades day 1 only in the Special Pre-Open Session (10:30-10:45).
2. Day-1 opening band is set by NEPSE (max = 3 x face value, e.g. 100-300).
3. The auction sets one opening price; your limit says "match me up to X".
4. To guarantee a fill bid at the top of the band — you then pay whatever the auction fixes.
5. Bidding below the top risks zero shares if the price gaps above your limit.
6. Order submission time = queue priority. Submit as early as possible.

Verdict — what to actually do (60k budget)

• MEPDL — better value entry (bigger float, hydro rotation, likely mid-band open ~130-180, room to run).
• SAPIL — higher-variance lottery (tiny float, 44x) — likely opens near top; flip or skip.
• SEF2 — mutual fund, NAV-based band (~9-11) — not a 3x play; only if it lists at a deep NAV discount.