The IPO allotment of Mahila Laghubitta Bittiya Sanstha Limited will take place this Friday at the office of the issue manager Nepal SBI Merchant Banking. The allotment program will commence at 8 in the morning.
The company had issued 4,00,000 units worth Rs 4 crore as Initial Public Offering to the general public from Magh 30. Out of the offered 4,00,000 units; 0.5% of the total issue capital i.e. 5,000 units were set aside for the employees of the company and 5% for the mutual funds. The remaining 3,75,000 units were for the general public.
According to the issue manager, the IPO has received 15,19,128 applications for a total of 2,34,33,770 units. This is the total data (verified and unverified applications) reported as of 5: 00 pm on the last day of the issue. Thus, the issue is oversubscribed nearly 62.49 times. The issue is also oversubscribed in terms of the number of applicants given that only 37,500 applicants will get the shares. The lottery is confirmed for 10 units each. Meanwhile, the allotment for mutual funds has already been completed.
This is the highest number of applicants seen in any IPO till now. Before this, 14.75 lakh valid applicants had applied for the IPO of Nepal Infrastructure Development Bank (NIFRA). After the issuance of 4,00,000 units of IPO shares to the general public, the paid-up capital will rise to Rs 10 crore and the promoter/public ratio will be 60:40.
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