Vijaya Laghubitta IPO allotment tomorrow; offer was oversubscribed 90 times

ShareSansar May 26:

The allotment of shares under the Initial Public Offering (IPO) of Vijaya Laghubitta Bittiya Sansatha Limited will be made public on Wednesday (tomorrow).

An official with the Growmore Merchant Banker, the issue manager for the IPO, said that all the details regarding the IPO allotment will be made public tomorrow at 8 am at the premises of Growmore Merchant Banker Limited, Durbarmarg, Kathmandu.

Vijaya Laghubitta Bittiya Sansatha Limited had floated its Initial Public Offering (IPO) a total of 4,20,000 kitta shares from Chaitra 18 and the last day of the issue was on Chaitra 22.  It was oversubscribed by 90 times.

Investors were required to apply for a minimum of 50 units and a maximum of 2,000 units.

Of the total shares, the company had set aside 12600 kittas for its employees. Likewise, 21,000 shares set aside for mutual funds have already been distributed to Nabil Balance Fund-1 (4200 kittas), Siddhartha Growth Scheme-1 (1400 kittas), Siddhartha Equity Oriental Scheme (2800 kittas), NMB Sulav Fund-1 (4200 kittas), NIBL Growth Fund-1 (4200 kittas), and Laxmi Value Fund-1 (4200 kittas).

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%.