Samaj Laghubitta Bittiya Sanstha IPO oversubscribed by 16.52 times in the first day; now allotment for 10 units will be done through a lottery

Samaj Laghubitta Bittiya Sanstha Limited is issuing 86,000 units worth Rs 86 lakh as Initial Public Offering to the general from (Bhadra 4, 2077) today. The early closing date of this issue is on Bhadra 8 and if the issue is not fully subscribed till Bhadra 8, then it can be extended up to Bhadra 18, 2077.

Out of the offered 86,000 units; 0.5% of the issued capital i.e. 1,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 4,300 units have been set aside for the mutual funds. The remaining 80,700 units are for the general public.

As per the issue manager Siddhartha Capital Limited, the issue has received approx 53,100 applications applying for a total of 13,33,300 units of shares worth Rs 13.33 crore till 5.00 PM today (Bhadra 4). This issue is already oversubscribed by 16.52 time and now its confirm that allotment for 10 units will be done through lottery.

Applications can be placed for a minimum of 10 units and a maximum of 5,000 units. 

After the issuance of 86,000 units worth Rs 86 lakh IPO shares the general public i.e 43% of total capital which will together raise its paid-up capital to Rs 2 crore and the promoter/public ratio will be 57:43. 

Samaj Laghubitta Bittiya Sanstha Limited is promoted by retired bankers, chartered accountant, engineer, businessman, and teachers. It is registered with the office of the company registrar under the companies act 2063. The company has started its micro-financing services from 25^th of Falgun, 2068 BS from its head office at Malangawa, Sarlahi.