Chautari Laghubitta's 5.60 lakh unit IPO closes today; Issue already oversubscribed by 22.25 times

Today is the last day to apply for the IPO of Chautari Laghubitta Bittiya Sanstha Limited.

Chautari Laghubitta has been floating 5,60,700 units IPO from Mangsir 19 till Mangsir 23, 2075 i.e today.

Out of total 6 lakh unit ordinary shares, 9,300 units have been issued to the employees whereas 5% i.e. 30,000 units have been issued to the mutual funds. Remaining 5,60,700 units will be issued for the general public.

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

As per the information received, more than 2.02 lakh applicants have applied for 1.24 crore units making the issue to be oversubscribed by about 22 times.

The interested applicants can apply for minimum 50 units while applications can be placed for maximum 3,000 units.

Applications can be placed through any financial institutions providing C-ASBA services or through Meroshare.

ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.

The company posted operating profits worth Rs.28.23 Lakhs and net profits worth Rs.37.48 Lakhs for the end of the first quarter of the current fiscal year.

After the issuance of IPO, the paid-up capital of the company will reach Rs Rs 18.60 crore.