August 15, 2022 | Investopaper
IPO Allotment Of Aviyan Laghubitta
Muktinath Capital Limited, the issue manager for the initial public offering (IPO) of Aviyan Laghubitta, has concluded the IPO allotment process on Monday.
After the allotment, 91,375 received 10 shares each. A total of 19,80,976 people had applied for the shares. Of them, 2,376 applications were disqualified with 19,78,594 eligible applicants. With the allotment, more than 18.87 lakh applicants were left empty handed.
To view the IPO result of Aviyan Laghubitta, click the link below:
Aviyan Laghubitta IPO
Aviyan Laghubitta Bittiya Sanstha Ltd had sold 975,000 shares in the initial public offering (IPO) from Shrawan 18, 2079 BS. At a par value of Rs 100, the public issue amounts to Rs 9.75 crores.
Due to over-subscription of shares, the public issue was closed on Shrawan 22, 2079 BS.
Out of the total shares, 5 percent or 48,750 shares were allotted to the mutual fund schemes. Likewise, 12,500 shares were reserved for the employees of the company. Hence, the general public could participate in the remaining 9,13,750 shares.
One could apply for a minimum of 10 shares and a maximum of 3,000 shares.
Securities Board Of Nepal (SEBON) had given approval to the company on Ashad 24, 2079 BS for the public issuance. The company had submitted the application to the board on Chaitra 30, 2078 BS seeking permission to float the shares. Only after the approval from SEBON, the company can sell the shares to the general public.
Muktinath Capital Limited is the issue and the sales manager. An agreement was reached between the microfinance company and Muktinath Capital in this regard. Roshan Kumar Adhikari, Acting CEO of Aviyan Laghubitta and Kavindra Dhoj Joshi, CEO of Muktinath Capital inked the agreement.
As of Ashad’s end 2078 BS, the company has a paid-up capital of Rs 15.25 crores. After the sale of shares in the IPO, the capital will increase to Rs 25 crores.
If the IPO is fully subscribed, the general public will possess 39 percent shares in the company while the promoters will own 61 percent shares.
About Aviyan Laghubitta Bittiya Sanstha Ltd
Aviyan Laghubitta Bittiya Sanstha Ltd is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It received its operating license from Nepal Rastra Bank on Ashwin 1, 2076 BS. The major promoters include Mega Bank Nepal Ltd. and Kumari Bank Ltd. The head office of the microfinance is located at Panauti, Kavre. It is a national-level microfinance company.
As of Ashad’s end 2078 BS, Aviyan Laghubitta has a paid-up capital of Rs 15.25 crores with Rs 89.71 lakhs in reserve and surplus. The company has floated Rs 1.54 Arba as loans and advances. [Based on Unaudited Q4 Report, FY 2077/78].
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