Asha Laghubitta IPO already oversubscribed by 9 times; issue manager collects Rs.60.66 Crore from more than 1.5 Lakh applicants

Sun, Feb 3, 2019 4:05 PM on IPO/FPO News, Latest, Stock Market,
Asha Laghu...

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 already collected Rs.60.66 Crore from a total of 163,000 applicants for 60.66 Lakh units. The issue has been oversubscribed by 9 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. Applications can be placed till Magh 22, 2075.

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%.