Prabhu Capital Limited has concluded the allotment procedure of Asha Laghubitta’s IPO.
The microfinance company had offered 674,000 units as IPO out of which 10,370 units were reserved for the employees of the company and 33,700 units were reserved for the mutual funds. The remaining 629,930 units were for the general public.
A total of 309,782 applicants had applied for 1.15 Crore units out of which 309,105 were deemed as valid applicants while 677 applicants who had aplied for 32,900 units were deemed as invalid. The IPO was oversubscribed by almost 18.25 times.
As per the allotment module, 62,993 applicants from the general public have received 10 units of shares each via lottery.
Care Ratings Nepal had assigned “Grade 4” rating to the IPO issuance indicating below average fundamentals.
After the allotment of IPO, the ordinary shareholders of the company will hold 32.50% of the total issued capital while the promoters will hold the remaining 67.50%. The paid-up capital will increase from existing Rs 14 crore to Rs 20.74 crores of the company.
IPO result can be accessed from the given link IPO RESULT