Infinity Laghubitta IPO issue to be allotted on 22nd Jestha, 2076; Almost 81% of applicants to return empty handed

Mon, Jun 3, 2019 12:42 PM on Featured, IPO/FPO News, Share Allotment,
Infinity L...

Infinity Laghubitta Bittiya Sanstha Limited had closed the issue of 6,74,300 units ordinary shares worth Rs 6.74 crore to the general public on Jestha 16, 2076. This issue was open since Jestha 13.

The allotment of the IPO will take place on 22nd Jestha, 2076 (Wednesday) at the premises of Civil Capital Market Limited at 10 AM.

As per the issue manager Civil Capital Market Limited, 3,30,130 applicants have applied for 6,710,800 units of shares oversubscribing the issue by 10.65 times till last day.

Out of the offered 6,74,000 units; 33,700 units have been allotted for the mutual funds. The remaining 6,40,300 units (including 10,370 set aside for employees of the company) are for the general public.

Since the issue has been heavily oversubscribed, it is likely that only 62,993 lucky applicants will be allotted 10 units each via lottery from the general public category. Remaining 2.67 Lakh applicants will return empty handed.

After the IPO issue, company paid up capital will be Rs 20.74 crore and promoter and public shareholding ratio will be 67.50:32.50.

Care Rating Nepal Limited has reaffirmed grading of “CARE-NP IPO Grade 4” to the proposed Initial Public Offer (IPO) of Infinity Laghubitta Bittiya Sanstha Ltd.