IPO allotment of Nepal Agro Laghubitta tomorrow at 9 AM in SBI Merchant Banking Office; 15,120 applicants to receive 10 units and 305,684 applicants to return empty-handed

Mon, Apr 29, 2019 5:29 PM on IPO/FPO News, Latest, Stock Market,
IPO allotm...

The allotment of Nepal Agro Laghubitta's IPO is scheduled for tomorrow i.e Baisakh 17th, 2076 at 9 AM. The program will be held at the office of SBI Merchant Banking, the issue manager of the IPO.

Nepal Agro Laghubitta Bittiya Sanstha Limited was issuing 1,61,778 units ordinary shares worth Rs 1.61 crore to the general public from  Baisakh 8, 2076. The closing date of this IPO issue was on Baisakh 11, 2076.

Out of the offered 1,61,778 units; 2,489 units have been allotted for the employees of the company and 8,089 units have been allotted for the mutual funds. The remaining 1,51,200 units are for the general public.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance.

According to the issue manager, a total of 320,804 verified applications were received applying for 6,542,440 unit shares. The issue has already been oversubscribed 43.2 times till its closing. Therefore, 15,120 applicants will be receiving 10 units each based on lottery while the remaining 305,684 applicants will have to return empty handed.

Nepal Agro Laghubitta Bittiya Sanstha Limited (Nepal Agro Microfinance Bittiya Sanstha Ltd.) was established on 19th April 2016 (2073/01/07). It is registered as a public limited company under Company Act of Nepal 2006.

Nepal Agro Laghubitta Bittiya Sanstha Ltd. received operating license from Nepal Rastra Bank as ‘D’ class financial institution on 8th September, 2016 (2073/05/23) to operate under Bank and Financial Institution Act, 2006. Its operation started from 20th September 2016 (2073/06/04).

Central Office of Nepal Agro Laghubitta is located in western part of Nepal, Pokhara, Kaski and it's working districts as of now are Kaski, Parbat, Baglung, Gulmi, Palpa, Salyan, Pyuthan, Rolpa, Tanahu and Lamjung.

As of second quarter of FY 75/76, the share capital of the microfinance company stands at Rs.3.36 Crore and the reserves stand at Rs.23.59 Lakhs. The net interest income for the period stands at Rs.1.04 Crore with net profit of Rs.72.20 Lakhs.