Vijaya Laghubitta IPO collection crosses Rs 3.78 arba; Oversubscribed by 90 times

ShareSansar, April 07:

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.  

According to the official of  Growmore Merchant Banker limited, the total collection of IPO stood Rs 3 arba 78 crore and has sent the updated report to  SEBON for further reporting.

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

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.