June 27, 2022 | Investopaper
Adarsha Laghubitta IPO Alloment
BOK Capital Markets Limited, the issue manager for the initial public offering (IPO) of Adarsha Laghubitta, has concluded the IPO allotment process on Monday.
After the allotment, 6,261 applicants received 10 shares each while the 5 applicants received additional one unit shares through lottery.
A total of 16,74,652 people had applied for the shares. Of them, 1,858 applications were disqualified with 16,72,794 eligible applicants. With the allotment, more than 16.65 lakh applicants were left empty handed.
To view the IPO result of Adarsha Laghubitta, click the link below:
IPO To General Public
Adarsha Laghubitta Bittiya Sanstha Limited had sold 67,000 shares to the general public (IPO) from Ashad 1, 2079 BS. At a par value of Rs 100, the IPO amounted to Rs 67 lakh.
Due to over-subscription of shares, the IPO issue was closed on Ashad 6, 2079 BS.
Out of the total issue, 1,035 unit shares were reserved for the employees of the company. Likewise, 3,350 shares were allotted to the mutual fund schemes. Hence, the general public could apply for the remaining 62,615 shares.
One could submit the application for a minimum of 10 shares and a maximum of 1,000 shares.
Securities Board Of Nepal (SEBON) granted the permission to the company on Jestha 10, 2079 BS for the public issuance. The company had submitted the application to the board on Ashwin 20, 2078 BS. Only after the approval from the regulatory body SEBON, the company can sell the shares to the general public.
For the public offering, Adarsha Laghubitta had appointed BOK Capital Markets Limited as the issue and sales manager. An agreement in this regard was already been inked between Adarsha Laghubitta and BOK Capital. The agreement was signed by Rajesh Sharma, Chief Executive Officer of Adarsh Laghubitta, and Kundar Sharma, Chief Executive Officer of BOK Capital.
About Adarsha Laghubitta
Adarsha Laghubitta Bittiya Sanstha Limited is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started its microfinance operation on December 16, 2018. The head office is located at Banepa, Kavrepalanchowk.
The company is currently operating in Bagmati Province.
At present, Adarsha Laghubitta has a paid-up capital of Rs. 1.40 crores. After the IPO, the capital will increase to Rs. 2.07 crores (if fully subscribed).
The general public will possess 32.37 percent shares in the company while the promoters will have 67.63 percent ownership.