IPO of Jeevan Bikas Laghubitta Oversubscribed 4 Times on First Day Itself

Jeevan Bikas Laghubitta Bittiya Sanstha Limited has issued 19,77,300 units worth Rs 19.77 crore as Initial Public Offering to the general public from today, i.e. Ashad 11. The early closing date of this issue is on Ashad 15 and if the issue is not fully subscribed till Ashad 15, the deadline can be extended up to Ashad 25, 2078.

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

NMB Capital Limited has been appointed as the issue manager for the IPO issuance. According to the issue manager, 4,73,521 applicants have applied for a total of 73,81,060 units. This is the data as of 2: 30 pm today. Thus, the issue is already oversubscribed 4 times on the first day itself.

Applications can be placed for a minimum of 10 units and a maximum of 1,000 units. 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.