FPO Allotment of Mirmire Laghubitta Bittiya Sanstha Concludes; Just 12,381 Applicants out of 13,20,203 Get 10 Units Each

Thu, Nov 2, 2023 9:44 AM on IPO/FPO Result News, Latest,

The FPO allotment of Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) is concluded today at the premises of the issue manager Nepal SBI Merchant Banking Limited, Kathmandu. 

Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) had issued 123,816.45 unit FPO at par value of Rs 100 to the general public from 25th to 30th Ashwin, 2080. 

According to the Banks and Financial Institutions Act (BAFIA), 2073 and the NRB, at least 30% of the issued capital should be retained by public shareholders in order for the company had issued 1,23,816.45 units of FPO shares to the general public. At present, the promoter: public share structure is a 71:29 ratio, which after this FPO issue will be a 70: 30 ratio.

The issue had received applications from 13,20,203 valid applicants who had applied for a total of 1,48,31,280 units. The issue was oversubscribed by more than 119.78 times. 

As per the allotment module, a total of 12,381 applicants were allotted 10 units each via lottery and lucky 6 applicants got 1 unit extra and the remaining 13,07,822 applicants were returned with empty hands. 

In total 1,333 applicants who applied for 16,780 units were disqualified.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, and MeroShare

CARE Ratings Nepal Limited (CRNL) has given the rating of CARE-NP BB- (Is) to Mirmire Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations, in Nepal.