Chautari Laghubitta’s IPO allotment concludes; 56,070 applicants allotted with 10 units each on lottery basis

Fri, Dec 14, 2018 11:48 AM on Featured, IPO/FPO News, Stock Market,

NIBL Ace Capital Limited has concluded the allotment of Initial Public Offering (IPO) of Chautari Laghubitta Bittiya Sanstha Limited.

Chautari Laghubitta had floated 5,60,700 units IPO from Mangsir 19 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.

For the offering 2,73,192 applications had been received for 1,71,53,770 units. The allotment has been made to 2,72,717 valid applicants applying for 1,71,13,130 units.

The IPO has been allotted to 56,070 applicants through lottery with 10 units each.

ICRA Nepal had 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 allotment of IPO, the paid-up capital of the company will reach Rs Rs 18.60 crore.

For IPO result click here