IPO of Jalpa Samudayik Laghubitta Oversubscribed Almost 15 Times on First Day Itself

Jalpa Samudayik Laghubitta Bittiya Sanstha Limited has opened the IPO issue for 5,22,000 shares from today, i.e. 21st Magh. The early closing date of the issue is on 25th Magh, 2078. If not fully subscribed by the early closing date, the deadline can be extended till Falgun 06.

The company had submitted an application to SEBON requesting to issue 32.625% of its issued capital in the form of an IPO. SEBON approved the application on January 24. Prabhu Capital has been appointed the issue manager for the proposed IPO issue.

The company has a total of 16 lakh registered shares of which 5.22 lakh shares have been issued in the upcoming IPO. Thus, the IPO will raise a total of Rs. 5.22 crores in paid-up capital.

0.5% of the issue, i.e. 8,000 units have been set aside for the employees of the company and 5%, i.e. 26,100 units to mutual funds. The remaining 4,87,900 units are purely for individual investors. Investors can apply for a minimum of 10 units and a maximum of 5,220 units.

According to CDSC, 5,81,498 applicants have applied for a total of 72,65,460 units. This is the data as of 5 pm today. Thus, the issue has already been oversubscribed 14.89 times on the first day itself.

ICRA Nepal Limited has assigned the [ICRANP-IR] BB rating to the IPO of Jalpa Samudayik Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to have a moderate risk regarding timely servicing of financial obligations, in Nepal.