Second Day of Opening, IPO of Manakamana Smart Laghubitta Gets Vote of Confidence from 11,79,712 Investors

Fri, Jul 2, 2021 4:07 PM on IPO/FPO News, Latest,

Manakamana Smart Laghubitta Sanstha Limited has issued 3,89,000 units of ordinary shares worth Rs. 3.89 crores to the general public from yesterday, i.e. Ashad 17, 2078. The issue will close on Ashad 21, 2078, since it is already oversubscribed on the first day itself.

Out of offered 389,000 units; 0.5% of issue capital i.e., 6,058 units have been allocated for the employees of the company, and 5% of the total offered to the general public i.e., 19,450 units have been allocated for mutual funds. The remaining 3,63,492 units are for the general public.

According to CDSC, 11,79,712 applicants have applied for a total of 1,57,20,120 units. This is the data as of 3 pm today. Thus, the issue is already oversubscribed more than 43.24 times on the second day itself. Given that only 36,349 applicants will be allotted, it would be meaningless for investors who haven't applied yet to apply for more than 10 units.

Applications can be placed for a minimum of 10 units and a maximum of 1,000 units. NMB Capital Limited has been appointed as the issue manager for the IPO issuance. After the IPO issue, public holding will be 32.11% and promoters holding will be 67.89%.