Vijay Laghubitta IPO closes today; collection crosses Rs 1.5 arba i.e. 36 times already

ShareSansar April 5:

Initial Public Offering (IPO) of Vijaya Laghubitta Bittiya Sansatha Limited is coming to an end today.

According to the Growmore Merchant Bank official, the IPO has already collected Rs 1 arba 50 crore 84 lakh 33 thousand till Sunday afternoon, resulting in an oversubscription by around 36 times.

The collection is expected to soar even more by the end of Sunday, the last day for filing application for the IPO. The company had floated a total of 4,20,000 kitta shares as part of its IPO on Chait 18.

Investors must apply for a minimum of 50 units and they can apply for a maximum of 2,000 units. Growmore Merchant Banker Limited, Durbar Marg, Kathmandu has been appointed the issue manager for the IPO.

After raising Rs 4 crore 20 lakh from the public, the company’s paid up will rise to Rs 14 crore and the promoter-public ratio will stand at 70% to 30%.

Vijaya Laghubitta had posted a net profit of Rs 4.35 million during the 2nd quarter of the fiscal year 2071/72.
ICRA Nepal has assigned “[ICRANP] IPO Grade 4,” indicating below average fundamentals to the proposed IPO of Vijaya Laghubitta Bittiya Sanstha Limited.