IPO allotment of Ganapati Laghubitta concludes; lucky 31,308 investors get 10 units each and remaining 291,301 applicants return empty hand

Fri, May 3, 2019 7:43 AM on IPO/FPO News, Latest, Share Allotment,

The IPO of Ganapati Laghubitta Bittiya Sanstha Limited is allotted today i.e. Baisakh 20, 2076 at the premises of NIBL Ace Capital Limited.

Ganapati Laghubitta Bittiya Sanstha Limited had issued 3,35,000 units ordinary shares worth Rs 1.61 crore to the general public from  Baisakh 9-12, 2076. Out of the offered 3,35,000 units; 5,175 units have been allotted for the employees of the company, out of which only 5,170 units were applied for and 16,750 units have been allotted for the mutual funds. The remaining 3,13,080 units are for the general public.

The issue had received applications from 322,609 valid applicants who had applied for a total of 6,555,110 units. The issue was oversubscribed by almost 21 times.

As per the allotment module, total 31,308 applicants were allotted 10 units each via lottery and remaining 291,301 applicants were returned empty hand. The total 700 applicants who applied for 15,980 units were invalid.

The total of 5,170 units were allotted to the staff of the company.

The IPO result can be accessed by sharesansar.com- IPO result page.

Ganapati Microfinance Bittiya Sanstha Ltd. is a “D” class National Level Microfinance Institution incorporated on June 27, 2016, licensed by Nepal Rastra Bank (NRB) on November 15, 2016 and commenced its operation from Dec 9, 2016 under Bank and Financial Institution Act 2006.

The paid-up capital will reach Rs 10.35 crore after the issuance of the public shares. After the IPO issue; public holding will be 32.37% and promoters holding will be 67.63%.

Guheswori Merchant Banking and Finance Ltd (32.14%) and Mr. Yubraj Bhandari (14.29%) are the major shareholders of the company.