IPO of Rastra Utthan Laghubitta Oversubscribed 18.85 Times Already

Rastra Utthan Laghubitta Bittiya Sanstha Limited has opened the IPO issue for 8,50,000 shares worth Rs 8.5 crore from yesterday, i.e. Falgun 4. The early closing date of this issue is on Falgun 8. Since the issue has already been oversubscribed by now, it will close at the early closing date.

Out of the offered 8,50,000 units; 0.5% of the issued capital i.e. 13,000 units have been set aside for the employees of the company and 5%, i.e. 42,500 units for mutual funds. The remaining 7,94,500 units are for the general public.

NIBL ACE Capital Limited has been appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 1,000 units.

According to CDSC, 12,64,693 applicants have applied for a total of 1,49,83,280 units. This is the data as of 10: 12 am today. Thus, the issue has already been oversubscribed over 18.85 times.

After the issuance of the IPO which is 32.69% of the total capital, the paid-up capital of the company will scale to Rs. 26 crores and the promoter/public ratio will be 67.31: 32.69.

Recommended Reading:

Things to Know Before Applying for IPO of Rastra Utthan Laghubitta