NMB Capital to conclude Swadeshi Laghubitta IPO allotment of 3 lakh unit shares on Sunday

- ShareSansar, May 17, 2017  on Featured , IPO News , Latest , Stock Market

Swadeshi Laghubitta Bittiya Sanstha Limited had  floated its Initial Public Offering (IPO) of 3,00,000 unit shares worth Rs 3 crore from Chaitra 25, 2073 till Chaitra 29, 2073.

As per an official of NMB Capital Limited, the issue manager for the IPO, the allotment of the IPO will take place on Jestha 7, 2074 (Sunday).

The venue and time of the allotment are yet to be finalized added the official.

The issue had collected Rs 3.35 arba (Oversubscribed by 122.83 times) till last day from both regular and ASBA applications. Around 93,327 application forms were received.

The microfinance company has set aside 12,000 unit shares for its employees and 15,000 unit shares for the existing ten mutual fund companies. The company has set aside a total of 2,73,000 unit share to the general public.

Itahari-based Swadeshi Laghubitta had initiated microfinance operations from December 24, 2014. It has earned a net profit of Rs 1.35 crore till the end of second quarter of the FY 2073/74 The microfinance company plans to raise Rs 3 crore through the offer. After the IPO, the paid up will reach Rs 10 crore from the current Rs 7 crore. Its authorized capital stands at Rs 20 crore.

After the IPO, the promoter-public ratio of the company will be 70% to 30%.