Chautari Laghubitta's 5.60 lakh unit IPO issue opens from today; Applications can be placed for minimum 50 units

Wed, Dec 5, 2018 6:57 AM on Featured, IPO/FPO News, Stock Market,
Chautari L...

Chautari Laghubitta Bittiya Sanstha Limited will be floating 5,60,000 units IPO from Mangsir 19 i.e today till Mangsir 23, 2075.

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,

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.