Chautari Laghubitta’s IPO oversubscribes by 7.4 times on first day itself; Issue to close on Mangsir 23

Chautari Laghubitta Bittiya Sanstha Limited’s IPO has received applications for 41,81,000 units on its first day of issuance.

The issue has received applications worth Rs 41.81 crore from 67,500 applicants making it oversubscribed by 7.4 times on its first day itself. The issue will remain open till Mangsir 23, 2075.

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.

Have you applied for Chautari Laghubitta’s IPO? Know some more about the issue