Adhikhola Laghubitta IPO issue receives more than 3 Lakh applicants; issue oversubscribed by more than 13 times till closing date

Thu, Jul 11, 2019 12:40 PM on IPO/FPO News, Latest,
Adhikhola...

Adhikhola Laghubitta Bittiya Sanstha Limited has closed the issue of 4,00,000 units ordinary shares worth Rs 4 crore to the general public from Ashad 25, 2076.

According to the issue manager, a total of 3 lakh 8 thousand 414 applications have been received applying for 54 lakh 57 thousand 340 unit shares till closing. The issue is oversubscribed by 13.64 times till closing day. However, this data as not been verified and includes invalid applicants as well.

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.

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.

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.