First Business News Portal in English from Nepal
Mahila Laghubitta Bittiya Sanstha Limited has issued 4,00,000 units worth Rs 4 crore as Initial Public Offering to the general public from Magh 30.
Out of the offered 4,00,000 units; 0.5% of the total issue capital i.e. 5,000 units have been set aside for the employees of the company and 5% for the mutual funds. The remaining 3,75,000 units are for the general public. Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 1,000 units.
According to the issue manager, the IPO has received 6,58,288 applications for a total of 1,06,52,590 units. This is the total data (verified and unverified applications) reported as of 9: 30 am today. Thus, the issue is already oversubscribed over 28.4 times. The issue is also oversubscribed in terms of the number of applicants given that only 37,500 applicants will get the shares. Thus, investors who haven’t submitted their applications till now can only apply for 10 units. The lottery is confirmed for 10 units each.
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