IPO of Asha Laghubitta to be allotted today; lucky 62993 applicants to be decided through lottery

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Fri, Feb 8, 2019 5:15 AM on IPO/FPO Result News, Latest, Stock Market,
IPO of Ash...

The IPO of Asha Laghubitta Bittiya Sanstha Limited will be allotted today at 3 PM at Prabhu Capital Limited, Kamaladi, Kathmandu.

As per the issue manager, Prabhu Capital, the IPO issue had received applications from approx 3 lakh 9 thousand applicants who had applied for more than 1.23 Crore units till IPO closing day. The issue was oversubscribed by almost 20 times.

The microfinance company had floated 6,74,000 unit shares as its Initial Public Offering (IPO) from Magh 18 to Magh 22, 2075. Total, 10,370 units were reserved for the employees of the company, 33,700 units for mutual funds and remaining 629,930 units for the general public.

An application could be placed from the financial institutions providing C-ASBA facility or through Meroshare.

Minimum 10 units and maximum 3,370 units were allowed to invest in the IPO.

Care Ratings Nepal had assigned “Grade 4” rating to the IPO issuance indicating below average fundamentals.

After the allotment of IPO, the ordinary shareholders of the company will hold 32.50% of the total issued capital while the promoters will hold the remaining 67.50%. The paid-up capital will increase from existing Rs 14 crore to Rs 20.74 crores of the company.

Asha Laghubitta’s IPO; Things you should know before applying