Mithila Laghubitta to debut at Rs 326 on March 28

ShareSansar, March 23:

The primary shares of Mithila Laghubitta Bikas Bank Limited is going to debut at Nepal Stock Exchange Limited (NEPSE) on March 28.

The microfinance development bank had signed an agreement with NEPSE on Friday to list the shares floated through the Initial Public Offering (IPO) of 70,725 primary shares in January.

The opening price will be Rs 326.25 though the opening price band has ranges from Rs 108.75 to 326.25 as the cost of fund was pretty high for those who invested in the IPO, which oversubscribed by more than 76 times, according to the sources privy of the development.

Civil Capital Market Limited, who was the issue manager of the Mithila’s IPO, has also been appointed the RTS.

Mithila had started distributing the share certificates for its Initial Public Offering (IPO) from March 18.

It had started distributing the allotment advice and refunding money to the non-allottees on February 21.

Earlier in February the IPO was flatly allotted at 1.26 percent to both the group of investors yesterday, and those who applied up to Rs 75,000 have fallen under lottery.


The IPO of Mithila that closed on January 8 was oversubscribed by 76.86 times as the issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 had drawn Rs 54 crore, 36 lakh and 30 thousand.

The SEBON had approved Mithila’s IPO issuance on December 11.

As 1,415 unit shares were set aside for the staff of the microfinance and another 5 percent of the shares were earmarked for the mutual funds, the total ordinary shares floated to the public stood at 65,774.