Mahila Laghubitta's IPO closes with new record; total 15,19,128 applicants applied for IPO issue

Mahila Laghubitta Bittiya Sanstha Limited has issued 4,00,000 units worth Rs 4 crore as Initial Public Offering to the general public from Magh 30. Today is the closing day for the IPO issue.

Out of the offered 4,00,000 units; 0.5% of the total issue capital i.e. 5,000 units have been set aside for the employees of the company and 5% for the mutual funds. The remaining 3,75,000 units are for the general public. Nepal SBI Merchant Banking 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 the issue manager, the IPO has received 15,19,128 applications for a total of 2,34,33,770 units. This is the total data (verified and unverified applications) reported as of 5: 00 pm today. Thus, the issue is already oversubscribed nearly 62.49 times. The issue is also oversubscribed in terms of the number of applicants given that only 37,500 applicants will get the shares. The lottery is confirmed for 10 units each.

This is the highest number of applicants seen in any IPO till now. Before that 14.75 lakh, valid applicants applied for Nepal Infrastructure Development Bank (NIFRA) IPO.

After the issuance of 4,00,000 units of IPO shares to the general public, the paid-up capital will rise to Rs 10 crore and the promoter/ public ratio will be 60:40.