IPO of Nepal Seva Laghubitta planned to be allotted on Sunday; Necessary procedures made by the issue manager

The IPO of Nepal Seva Laghubitta Bittiya Sanstha (SEVA) is set to be allotted on Sunday. The issue manager of the IPO issuance, NMB Capital has already informed about the submission of pre-allotment module in the securities board on Thursday.

The microfinance company had floated 1.80 lakh unit shares rom Baisakh 12 to Baisakh 16. Out of them, 3,600 unit shares were floated for the employees of company and 9,000 unit shares were floated for the collective investment funds. The remaining 1,67,400 unit shares have been floated for the general public.

The microfinance company with Rs 6 crore as its paid up capital has floated initial offering equal to 30% of its total paid up capital.

The IPO of SEVA has been oversubscribed by a whopping 82 times. Over 2.08 lakh investors applied for the IPO in which only 16,740 general public applicants will be allotted 10 kitta shares each.