IPO of Jeevan Bikas Laghubitta Closes With Record Breaking Volume of Applicants

Jeevan Bikas Laghubitta Bittiya Sanstha Limited has now closed the IPO issue for 19,77,300 units worth Rs 19.77 crore.

Out of the offered 19,77,300 units; 0.5% of the total capital i.e. 30,420 units were set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 98,865 units were set aside for the mutual funds. The remaining 18,48,015 units were for the general public.

NMB Capital Limited is the issue manager for the IPO issuance. According to the issue manager, 20,87,388 applicants have applied for a total of 3,13,24,090 units. This is the data reported today by CDSC. Note that the issue closed yesterday at the end of banking hours. Thus, the issue is oversubscribed 16.95 times. Note that some applications may be invalidated during verification. 

Furthermore, this is now the issue to have received the highest number of applicants as of now. The previous record was broken by Jyoti Life Insurance with 17.97 lakh applicants during the final reporting time.

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