Gurans Laghubitta closing IPO issue; issue already oversubscribed and investors can apply till 5 PM today

Fri, May 3, 2019 6:36 AM on IPO/FPO News, Latest, Stock Market,

Gurans Laghubitta Bittiya Sanstha Limited is closing the issue of 2,50,000 units ordinary shares worth Rs 2.50 crore to the general public from today (Baisakh 20, 2076. This issue was opened since Baisakh 16, 2076. The investors can apply this IPO till 5 PM today.

As per issue manager NIBL Ace Capital, 1,98,200 applicants have applied for 3,704,000 units till yesterday, oversubscribing the issue by 15.85 times.

Out of the offered 2,50,000 units; 3,875 units (0.5% of issued capital) have been allotted for the employees of the company and 12,500 units (5% of total units allocated for general public) have been allotted for the mutual funds. The remaining 2,33,625 units are for the general public.

Applications can be place for minimum 10 units and maximum 500 units. Application can be placed from the financial institutions providing C-ASBA facility or through Meroshare.

The microfinance institution currently has issued capital of Rs 7.75  crore and paid up value of Rs 5.25 crore. After the issuance of the IPO shares, the paid up value  will scale up to Rs 7.75 crore.