July 13, 2020 | Investopaper
Initial Public Offering (IPO) Result Of Sadhana Laghubitta
Global IME Capital Limited will disclose the IPO result of Sadhana Laghubitta today. The issue manager, Global IME Capital informed that the IPO allotment result will take place after 5 PM at its Head Office, Jamal, Kathmandu.
The issue received applications from more than 4,58,000 investors. The IPO of Sadhana Laghubitta was oversubscribed by almost 17 times.
After the IPO allotment, you can view the IPO result in Mero share.
Also Read: How To View IPO Result In Meroshare?
Sadhana Laghubitta IPO
Sadhana Laghubitta Bittiya Sanstha Limited issued the Initial Public Offering (IPO) to the general public from Ashad 21, 2077. The issue remained open until Ashad 24, 2077. If it remained undersubsrcibed until that period, the company would extend the IPO issue until Shrawan 4, 2077.
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Sadhana Laghubitta issued 7,07,800 unit shares in the IPO. Therefore, the company planned to collect Rs. 7.08 crores in capital through the IPO issuance.
Out of the total issue, the employees of the company received 10,890 shares. Likewise, the mutual funds applied for the 5% of the public issue or 35,390 shares. Hence, the general public submitted application for the remaining 6,61,520 shares.
Investors coulg apply for a minimum of 10 shares and a maximum of 1,000 shares at a face value of Rs. 100.
Securities Board of Nepal (SEBON) had provided the approval for the IPO on Ashad 7, 2077. The microfinance company had submitted the application to SEBON for the IPO on Falgun 27, 2076.
Global IME Capital Limited is appointed as the issue manager for the IPO.
Care Ratings Nepal had provided IPO Grade 4+ ratings to the IPO. This indicates below average fundamentals for the company.
The total issued capital of the company is Rs. 21.78 crores. The current paid-up capital stands at Rs. 14.70 crores. After the IPO issue, the general public will have 32.50 percent ownership in the company. The promoters will possess 67.50 percent.
About Sadhana Laghubitta
Sadhana Laghubitta was registered as the public company on Jestha 31, 2074. In Karthik 13, 2074, the microfinance received approval from Nepal Rastra Bank to operate in 10 districts. In Mangsir 11, 2076, the microfinance upgraded itself into the national level microfinance. The head office is located at Gorkha Municipality 6, Haramtari, Gorkha.
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Sadhana Laghubitta acquired Samridhhi Laghubitta Bittiya Sanstha Limited. They started a joint operation from Ashad 30, 2076. After the acquisition, the microfinance upgraded into national level ‘D’ class microfinance institution.
The microfinance currently operates in 22 districts through its 60 branch offices. It has more than 45,976 members.
Until the third quarter of current fiscal year 2076/77, Sadhana Laghubitta has collected Rs. 43.16 crores in deposits and provided 1.71 Arba in loans. The microfinance has earned Rs. 1.91 crores in the 9 months period.
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