Gurans Laghubitta IPO issue oversubscribed on first day; total 78,400 applicants applied till 5 PM today

Mon, Apr 29, 2019 10:01 PM on IPO/FPO News, Stock Market, Latest,

Gurans Laghubitta Bittiya Sanstha Limited is issuing 2,50,000 units ordinary shares worth Rs 2.50 crore to the general public from today (Baisakh 16, 2076). The early closing date of this IPO issue is on Baisakh 20, 2076.

As per issue manager NIBL Ace Capital, 78,400 applicants have applied for 1,493,800 units till 5 PM on first day, oversubscribing the issue by 6.4 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.