IPO opening day of Janautthan Samudayic; 90,000 units to be floated

ShareSansar, March 1:

Janautthan Samudayic Laghubitta Bikas Bank Limited is going public with its shares from March 1 (today).

As part of its Initial Public Offering (IPO), Janautthan is floating a total 90,000 units of ordinary shares at face value of Rs 100. The bank has set aside 4,500 units of shares for the mutual funds. The mutual fund companies who have bought the shares are Nabil Balance fund 1, Siddhartha lagani Briddhi Yojana-1, Siddhartha Equity-Oriented Scheme, NMB Sulav Fund-1 and NIBL Sambriddhi Fund-1.

Likewise, 2,700 units have been allocated to the staff member of Janautthan. Therefore, common investors can apply only for the remaining 82,800 units of shares.

Individual investors must apply for a minimum of 10 units, while they can apply for a maximum of 2,000 units.

The issue will be managed by Growmore Merchant Banker Limited and the offer will close on Falgun 20. The maximum closing date has been set for Chaitra 1.

The development bank’s paid-up capital will rise to Rs 2 crore from the existing Rs 1.10 crore following the IPO. It earned a net profit of Rs 26.10 lakh in the fiscal year 2070/71 and has Rs 29.94 lakh in its reserve fund.

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