When Will the IPO Shares of Mahila Laghubitta be Listed in NEPSE?

The IPO allotment of Mahila Laghubitta Bittiya Sanstha Limited concluded last week at the office of issue manager Nepal SBI Merchant Banking Limited.

Mahila Laghubitta Bittiya Sanstha Limited had issued 4,00,000 units worth Rs 4 crore as Initial Public Offering to the general public from (Magh 30- Falgun 5, 2077). The issue had received applications from 15,36,682 valid applicants who had applied for a total of 23,692,630 units. The issue was oversubscribed more than 63.18 times. As per the allotment module, a total of 37,500 applicants were allotted 10 units each via lottery, and the remaining 14,99,182 applicants returned empty-handed. A total of 5,000 units were allotted to the staff of the company and 20,000 units allotted to mutual funds. In total 3,353 applicants who applied for 54,960 units were disqualified.

When Sharesansar called the issue manager Nepal SBI Merchant Bank, they stated that the application for listing has already been lodged. However, when we called NEPSE's spokesperson Mr. Murahari Parajuli, he inquired with his team and reported to us that they had not received a listing application from the issue manager. On our request, he even revealed that listing happens within 2 to 3 days after the issue manager submits an application, provided the documents are complete.

On our second call to the issue manager, they told us that they have physically submitted the application to the exchange just yesterday.

Quite frankly, Sharesansar can't play this game of dogs and tails forever. To conclude, the listing will happen 2 to 3 days after the issue manager submits an application, which on a sarcastic note, the issue manager has already submitted but NEPSE has not yet received.

Sharesansar, unmasking truths, and lies. 

Update: In response to this news that we published, we received an update from Nepal SBI Merchant Banking Ltd. This was their reply:

Dear [Sharesansar],

We came to know about the news/information published on your website in regards to the Enlistment of ordinary shares of Mahila LBBSL with CDSC and NEPSE.

We kindly inform you that Issuing company i.e. Mahila LBBSL had lodged an application for the listing of shares with CDSC dated 03.03.2021.

As of now, the tripartite agreement (Issuing company, CDSC, and RTA) has to be signed by the three parties. After the signing of the agreement, CDSC shall provide an enlistment letter with ISIN for the securities enlisted. Then only the application for the enlistment with NEPSE shall be filed.

At best company shall lodge an application with NEPSE this Sunday.