Laxmi Laghubitta IPO oversubscribed by over 86 times
Mon, Jun 30, 2014 12:00 AM on IPO/FPO News,
ShareSansar, June 30:
The Initial Public Offering (IPO) of Laxmi Laghubitta Bittiya Sanstha Limited has been oversubscribed more than 86 times.
The IPO worth Rs 3 crore floated on June 24 has drawn more than 2.57 arba, according to Nabil Investment Banking Limited which is managing the issue.
The IPO drew more than Rs 18 crore in the first day, and more than Rs 32 crore in the second day.
The microfinance institution based in Kathmandu has stated that out of the 3 lakh primary shares being floated at a face value of Rs 100, altogether 15,000 units have been set aside for the mutual funds and 9,000 units for its staff.
The issue would close on June 27, or by July 8 at the latest.Laxmi Laghubitta has an authorized capital of Rs 10 crore, issued capital of Rs 10 crore, and the paid-up of Rs 7 crore.Following the IPO, its paid-up capital will also rise to Rs 10 crore.
The class ‘D’ financial institution has been in operation since for the last three years.
Its EPS stands at 0.29, and is expected to grow to 2.63 by the end of the current fiscal and up to 20.52 by the fiscal year 2072/73.
