Applications flow like water for Asha Laghubitta IPO; more than 3 Lakh applicants apply for 1.13 Crore units

Tue, Feb 5, 2019 4:30 PM on IPO/FPO News, Latest, Stock Market,

Asha Laghubitta Bittiya Sanstha Limited (ASHA) is issuing 674,000 units shares as Initial Public Offering (IPO).

As per the issue manager, Prabhu Capital, the issue has received applications from more than 3 Lakh applicants who have applied for a total of 1.13 Crore units till now. However, this is not the verified data. The issue has been oversubscribed by almost 17 times.

The microfinance company is issuing 10,370 unit for the employees of the company, 33,700 units for mutual funds and remaining 629,930 units for the general public. Today was the last day to apply for the issue.

Application can be placed from the financial institutions providing C-ASBA facility or through Meroshare.

Applications can be placed for minimum 10 units and maximum 3,370 units.

Care Ratings Nepal has assigned “Grade 4” rating to the IPO issuance indicating below average fundamentals.

After the issuance 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%.