The IPO allotment of Samaj Laghubitta Bittiya Sanstha Limited is concluded today at the premises of Siddhartha Capital Limited.
Samaj Laghubitta Bittiya Sanstha Limited had issued 86,000 units worth Rs 86 lakh as Initial Public Offering to the general public from (Bhadra 4-8, 2077).
Out of the offered 86,000 units; 0.5% of the issued capital i.e. 1,000 units were set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 4,300 units were set aside for the mutual funds. The remaining 80,700 units were open for the general public.
The issue had received applications from 5,47,370 valid applicants who had applied for a total of 1,14,64,920 units. The issue was oversubscribed by more than 142 times.
As per the allotment module, a total of 8,070 applicants were allotted 10 units each via lottery, and the remaining 5.39 lakh applicants were returned empty hands.
A total of 1,000 units were allotted to the staff of the company and 4,300 units allotted to mutual funds.
In total 500 applicants who applied for 9,760 units were disqualified.
The IPO result can be accessed by sharesansar.com- IPO result page soon.
The microfinance company's CEO thanked everyone for making this issue a success and congratulated the lucky 8,070 applicants.
He also mentioned that since the company got Nepal Rastra Bank's approval on Baisakh 02, 2075, it has been performing at its best.
After the issuance of 86,000 units worth Rs 86 lakh IPO shares the general public i.e 43% of total capital which will together raise its paid-up capital to Rs 2 crore and the promoter/public ratio will be 57:43.
Samaj Laghubitta Bittiya Sanstha Limited is promoted by retired bankers, chartered accountant, engineer, businessman, and teachers. It is registered with the office of the company registrar under the companies act 2063. The company has started its micro-financing services from 25th of Falgun, 2068 BS from its head office at Malangawa, Sarlahi.