IPO allotment of Adhikhola Laghubitta concludes; lucky 37,500 investors get 10 units each and remaining 2,62,913 applicants return empty hand

The IPO of Adhikhola Laghubitta Bittiya Sanstha Limited is allotted today i.e. Ashadh 30, 2076 at the premises of NIBL Ace Capital Limited, Lazimpat, Kathmandu. The company had closed the issue of 4,00,000 units ordinary shares worth Rs 4 crore to the general public from Ashad 25, 2076.

Out of the offered 4,00,000 units; 5,000 units have been allotted for the employees of the company and 5% of total offered share to general public i.e. 20,000 units have been allotted for the mutual funds. The remaining 3,75,000 units are for the general public.

The issue had received applications from 3,00,413 valid applicants who had applied for a total of 52,41,660 units. The issue was oversubscribed by more than 13.97 times.

As per the allotment module, total 37,500 applicants were allotted 10 units each via lottery and remaining 2,62,913 applicants were returned empty hand. The total 579 applicants who applied for 8,970 units were invalid.

The result will be published on sharesansar.com soon.

"We were waiting for IPO and now we will be working on merger and acquisition. We are targeting to become a national level micro finance after M&A proposed by Nepal Rastra Bank. To merge or acquire will depend on the partner we find and the monetary Policy" CEO Dol Bahadur KC.

The staffs and mutual funds were allotted 5,000 units and 20,000 units respectively.

The paid-up capital will reach Rs 10 crore after the issuance of the public shares. After the IPO issue; public holding will be 40% and promoters holding will be 60%.

The company FY 2075/76 third quarter EPS is Rs 18.66 and net worth per share stands at Rs 106.38.

Incorporated in August 26, 2016, Adhikhola Laghubitta Bittiya Sanstha Limited (ALB) started its commercial operation from February 12, 2017, upon receiving license to operate as 10 districts-level class D MFI. As of mid-January 2019, ALB had operations through 19 branches over its 10 licensed districts. ALB is promoted by 38 individual promoters engaged in different professions.