First Business News Portal in English from Nepal
KATHMANDU: Upakar Laghubitta Bittiya Sanstha Limited is closing its IPO issue today. The IPO was supposed to close at the early closing date on 29th Chaitra, 2078 since it was already oversubscribed on the first day itself. However, the IPO will close today, i.e. on 30th Chaitra at the end of banking hours because the government decided to give a public holiday on Chaitra 27 on the occasion of Ram Nawami.
The company had submitted an application to SEBON requesting to issue 36% of its issued capital in the form of an IPO. The proposal was submitted on Shrawan 13. SEBON then approved the application on Chaitra 07.
The company has a total of 6,56,250 registered shares of which 2,36,250 shares are being issued in the upcoming IPO. Thus, the IPO will raise a total of Rs. 2,36,25,000 in paid-up capital. Of the total public issue, 0.5%, i.e. 3,281 shares have been reserved for employees while 5%, i.e. 11,813 shares for mutual funds. The remaining 2,21,156 shares are then for the individual public.
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