IPO Listing Update: Jeevan Bikas Laghubitta and Manakamana Smart Laghubitta

The IPO shares of Jeevan Bikas Laghubitta Bittiya Sanstha Limited will most probably be listed in NEPSE this week, the issue manager states. The issue manager has registered at CDSC and the listing application was sent to the exchange last Thursday.

The company had issued 19,77,300 units worth Rs 19.77 crore as Initial Public Offering to the general public from Ashad 11 to Ashad 15, 2078. Out of the offered 19,77,300 units; 0.5% of the issued capital i.e. 30,420 units were set aside for the employees of the company and 5% for the mutual funds. The remaining 18,48,015 units are were for the general public.

The issue had received applications from 20,18,308 valid applicants who had applied for a total of 2,97,74,360 units. The issue was oversubscribed more than 16.11 times. As per the allotment module, a total of 1,84,801 applicants were allotted 10 units each via lottery and five luck applicants got 1 unit extra; and the remaining 18,33,507 applicants returned empty hands. A total of 30,420 units were allotted to 763 staff of the company and 98,865 units were allotted to 13 mutual funds.

After the issuance of 19,77,300 units worth Rs. 19.77 crore IPO shares, the paid-up capital has scaled to Rs 60.84 crore and the promoter/public ratio is now 67.50:32.50.

Similarly, the issue manager NMB Capital says the listing of shares of Manakamana Smart Laghubitta Bittiya Sanstha Limited will happen this week or the week after. The issue manager has registered at CDSC but the listing application hasn't been sent yet.

The company had issued 3,89,000 units worth Rs 3.89 crore as Initial Public Offering to the general public from (Ashad 17-21, 2078). Out of the offered 3,89,000 units; 0.5% of the issued capital i.e. 6,058 units were set aside for the employees of the company and 5% for the mutual funds. The remaining 3,63,492 units are for the general public.

The issue had received applications from 19,51,521 valid applicants who had applied for a total of 2,50,95,370 units. The issue was oversubscribed more than 69.03 times. As per the allotment module, a total of 36,349 applicants were allotted 10 units each via lottery, and two luck applicants get 1 unit extra, and the remaining 19,15,172 applicants were returned empty hands. A total of 6,058 units were allotted to 79 staff of the company and 19,450 units were allotted to 13 mutual funds.

After the issuance of 3,89,000 units worth Rs 3.89 crore IPO shares the general public i.e 32.11% of total capital which will together raise its paid-up capital to Rs 12.11 crore and the promoter/public ratio will be 67.89:32.11.

Incorporated in January 2018, as Manakamana Laghubitta Bittiya Sanstha Limited, the company started its operation in February 2018 as a licensed 10-district level class D microfinance institution. Later, the company merged with Smart Laghubitta Bittiya Sanstha and started joint operations from July 26, 2020, as a province-level (licensed to operate in Province 5) regional MFI in the name of Manakama Smart Laghubitta Bittiya Sanstha Ltd (MSLBSL). MSLBSL is promoted by 69 individual promoters engaged in different professions. Mr. Dev Singh Bista is the Chief Executive Officer of the company. The registered and corporate office of MSLBSL is in Siddharthanagar-5 Rupandehi, Nepal.