February 25, 2022 | Investopaper
Rastra Utthan Laghubitta IPO Result (IPO Allotment)
NIBL Ace Capital Limited, the issue manager for the initial public offering (IPO) of Rastra Utthan Laghubitta, has concluded the IPO allotment process on Thursday.
After the allotment, 79,450 received 10 shares each through lottery.
A total of 25,85,261 people had applied for the shares. Of them, 5,859 applications were disqualified with 25,79,402 eligible applicants. With the allotment, more than 25 lakh applicants were left empty handed.
To view the IPO result of Rastra Utthan Laghubitta, click the link below:
Rastra Utthan Laghubitta IPO
Rastra Utthan Laghubitta Bittiya Sanstha Limited issued 8,50,000 shares to the general public (IPO) from Falgun 4, 2078 BS to Falgun 8, 2078 BS. At a par value of Rs 100, the IPO amounted to Rs 8.50 crores.
Our of the total 8,50,000 shares, 13,000 shares are reserved for the employees of the company while 42,500 shares are allotted to the mutual fund schemes. Hence, the general public applied for the remaining 7,94,500 shares.
One could submit the application for a minimum of 10 shares and a maximum of 1,000 shares.
Securities Board Of Nepal (SEBON) had provided the final approval to the company on Magh 9, 2078 BS for the issuance of shares to the public.
The company had appointed NIBL Ace Capital Limited as the issue and sales manager.
The total issued capital of the company is Rs 26 crores. After the issue of IPO, the general public will have 32.69 percent ownership of the company. Likewise, the promoters will hold 67.31 percent share in the company.
About Rastra Utthan Laghubitta
Rastra Utthan Laghubitta is a national level ‘D’ class microfinance company licensed by Nepal Rastra Bank. It started its microfinance operation from Falgun 8, 2075 BS [February 20, 2019]. The head office is located at Sanga, Banepa -13, Kabrepalanchowk.
The microfinance is mainly promoted by Nepal Rural Development Organization (NeRuDO), Rastriya Banijya Bank Ltd, Prabhu Bank among others. The company has an authorized capital of Rs 50 crores and a paid-up capital of Rs 17.50 crores. After the issue of IPO worth Rs 8.50 crores, the capital will rise to Rs 26 crores.
The promoter shareholdings include NeRuDO-28.15 percent, Rastriya Banijya Bank-21.15 percent, Prabhu Bank-11.54 percent, and other promoters-5.77 percent.