Sabaiko Laghubitta IPO closing from today; Company floating 5.30 lakh unit shares

July 21, 2019 | Investopaper

Sabaiko Laghubitta is closing its IPO issue from today (Shrawan 5, 2076). Due to the oversubscription of shares, the issue will remain open until the close of banking hours today. If the issue had remained undersubscribed, it would extend to Shrawan 20, 2076.

The microfinance is issuing 5,30,000 shares in the IPO from Shrawan 1, 2076. The par value of each share is Rs. 100. So, the IPO issue of Sabaiko Laghubitta is worth Rs. 5.30 crores.

Related: Upcoming Initial Public Offerings (IPO) In Nepal

Out of a total of 5.30 lakh units, employees will get hold of 8,250 shares. Likewise, mutual funds will apply for 26,500 shares. Similarly, the general public will participate in 4,95,250 IPO shares.

Investors can apply for a minimum of 10 units and a maximum of 2,000 units.

The total issued capital of Sabaiko Laghubitta is Rs. 16.50 crores. So, the general public will possess 32.12 percent of the company after the IPO issue.

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Sabaiko Laghubitta Bittiya Sanstha had received approval to issue the IPO. Sebon provided the approval on Ashad 13, 2076. The company submitted an application to SEBON for the IPO on Chaitra 24, 2075.

NIBL Ace Capital is the issue manager for the IPO.

The IPO received Grade 4 ratings from ICRA Nepal. This indicates below-average fundamentals of the company.

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