Adhikhola Laghubitta IPO for general public closes from today; already 2.64 lakh applicants applied till 3rd day

Adhikhola Laghubitta Bittiya Sanstha Limited is closing the issue of 4,00,000 units ordinary shares worth Rs 4 crore to the general public from today (Ashad 25, 2076). The interested investors are requested to apply before 5 PM today.

According to the issue manager, a total of 2 lakh 64 thousand 820 applications have been received applying for 46 lakh 38 thousand 400 unit shares. The issue is already oversubscribed by more than 12.36 times till 3rd day. 

IPO of Adhikhola Laghubitta opens from sunday; Things to know before investing

Out of the offered 4,00,000 units; 5,000 units have been allotted for the employees of the company and 5% of total offered share to general public i.e. 20,000 units have been allotted for the mutual funds. The remaining 3,75,000 units are for the general public.

Applications can be place for minimum 10 units and maximum 2,000 units.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance.

The paid-up capital will reach Rs 10 crore after the issuance of the public shares. After the IPO issue; public holding will be 40% and promoters holding will be 60%.

The company FY 2075/76 third quarter EPS is Rs 18.66 and net worth per share stands at Rs 106.38.

ICRA Nepal has assigned an [ICRANP] IPO Grade 4, indicating below-average fundamentals to the proposed IPO.

Incorporated in August 26, 2016, Adhikhola Laghubitta Bittiya Sanstha Limited (ALB) started its commercial operation from February 12, 2017, upon receiving license to operate as 10 districts-level class D MFI. As of mid-January 2019, ALB had operations through 19 branches over its 10 licensed districts. ALB is promoted by 38 individual promoters engaged in different professions. Mr. Dolraj K.C is the chief executive officer of the company. The registered and corporate office of ALB is located at Veerkot-1, Syangja district of Gandaki Province in Western Nepal.