Vijay Laghubitta IPO oversubscribed nearly 12 times on first day; raises over Rs 50.36 cr  

ShareSansar April 2:

Vijaya Laghubitta Bittiya Sanstha Limited initial public offering (IPO) has been oversubscribed nearly 12 times on the first day.

According to a Growmore Merchant Bank official, the total collections on the first day of the IPO on Wednesday has reached Rs 50 crore 36 lakhs and 65 thousand.

Vijaya’s IPO of 4,20,000 unit shares was launched on Chait 18. The offer will close on Chait 22. The maximum closing date for the offer is Baisakh 2, 2072.

Investors are required to invest in a minimum of 50 units and they can apply for a maximum of 2,000 units.

Growmore Merchant Banker Limited, Durbar Marg, Kathmandu has been appointed the issue manager for the IPO.

Of the total shares, the company has set aside 12600 kittas for its employees. Likewise, 21,000 shares set aside for mutual funds have already been distributed to Nabil Balance Fund-1 (4200 kittas), Siddhartha Growth Scheme-1 (1400 kittas), Siddhartha Equity Oriental Scheme (2800 kittas), NMB Sulav Fund-1 (4200 kittas), NIBL Growth Fund-1 (4200 kittas), and Laxmi Value Fund-1 (4200 kittas).

After raising Rs 4 crore 20 lakh from the public, the company’s paid up will rise to Rs 14 crore and the promoter-public ratio will stand at 70% to 30%.

Vijaya Laghubitta had posted a net profit of Rs 4.35 million during the 2nd quarter of the fiscal year 2071/72.
ICRA Nepal has assigned “[ICRANP] IPO Grade 4,” indicating below average fundamentals to the proposed IPO of Vijaya Laghubitta Bittiya Sanstha Limited.
 

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