The IPO allotment of Mahila Laghubitta Bittiya Sanstha Limited is concluded today at the office of issue manager Nepal SBI Merchant Banking Limited.
Mahila Laghubitta Bittiya Sanstha Limited had issued 4,00,000 units worth Rs 4 crore as Initial Public Offering to the general public from (Magh 30- Falgun 5, 2077).
Out of the offered 4,00,000 units; 0.5% of the total issue capital i.e. 5,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 20,000 units have been set aside for the mutual funds. The remaining 3,75,000 units are for the general public.
The issue had received applications from 15,36,682 valid applicants who had applied for a total of 23,692,630 units. The issue was oversubscribed more than 63.18 times.
As per the allotment module, a total of 37,500 applicants were allotted 10 units each via lottery, and the remaining 14,99,182 applicants were returned empty hands.
A total of 5,000 units were allotted to the staff of the company and 20,000 units allotted to mutual funds.
In total 3,353 applicants who applied for 54,960 units were disqualified.
After the issuance of 4,00,000 units worth Rs 4 crore IPO shares the general public i.e 40% of total capital which will together raise its paid-up capital to Rs 10 crore and the promoter/public ratio will be 60:40.
Meanwhile, the company has reported a rise in net profit by 159.46% in the second quarter of the fiscal year 2077/78. It has published an unaudited financial report for the second quarter. It has stated that net profit has increased to Rs. 5.43 crore in the second quarter of the fiscal year 2077/78 from Rs 2.09 crore reported in the corresponding quarter of the previous fiscal year 2076/77.