Laxmi Laghubitta IPO: Up to 1,050 units under lottery; allotted to the rest at 0.9%

ShareSansar, August 6:

Allotment of the Initial Public Offering (IPO) of Laxmi Laghubitta Bittiya Sanstha Limited has been held this morning.

According to Anuj Thapa of Nabil Investment Banking Limited, the issue manager, those who applied up to 1,050 units have fallen under lottery while it was flatly allotted to those applying for more than that 0.9 percent.

We will be covering more of the IPO allotment in coming hours.

The IPO was oversubscribed more than 110 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 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.

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.