Sparsha Laghubitta IPO to be allotted on Sunday; only one in every 12 applicants to be allotted 10 units

Thu, Mar 21, 2019 5:19 PM on IPO/FPO News, Latest, Stock Market,
Sparsha La...

The IPO of Sparsha Laghubitta will be allotted on Sunday i.e. Chaitra 10th, 2075. As per the officials at Sanima Capital, the issue manager of the IPO, 252,000 units offered to the general public will be allotted on Sunday.

The microfinance company was offering 269,630 units ordinary shares to the general public was in issue from Falgun 26 to Falgun 29, 2075. Out of the offered 269,630 units, 0.5% of issued capital i.e. 4,148 units have been allotted for the employees of the company and 5% of the issue equal i.e. 13,482 units have been allotted for the mutual funds. The remaining 252,000 units are for the general public.

The issue had received applications from 303,044 applicants who had applied for a total of 8,327,630 units. The issue was oversubscribed by more than 33 times.

However, only 8.32% of the total applicants will be allotted shares. Lucky 25,200 applicants will be allotted 10 units each through lottery system.

The paid-up capital will reach Rs.8.29 Crore after the issuance of the public shares. After the IPO issue; public holding will be 32.5% and promoters holding will be 62.5%.