Samata Gharelu Laghubitta Closing FPO from Today
November 5, 2024 | Investopaper
Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) is currently issuing the shares in the Follow-on Public Offering (FPO). The FPO is open from Karthik 12, 2081 BS. Due to over-subscription of shares, the public offering will close on Karthik 20, 2081 BS.
The company is selling 350,904.25 shares in FPO. At a par value of Rs. 100, the public issue amounts to Rs. 3.50 crores.
Interested investors can apply for a minimum of 10 shares and a maximum of 1000 shares.
For this purpose, Securities Board of Nepal (SEBON) granted approval to the company on Ashwin 29, 2081 BS. The company had submitted the application to the board on Chaitra 29, 2078 B.S seeking permission for public issuance.
The company has appointed Muktinath Capital Limited as the issue and sales manager. The company has also appointed NIBL Ace Capital Limited as the underwriter for the shares.
Samata Gharelu Laghubitta acquired Manakamana Smart Laghubitta to form ‘Samata Gharelu Laghubitta Bittiya Sanstha Limited’. In order to maintain the shareholding ratio at 69.48:30.52 (promoter-public), the company has decided the issue the FPO.
As of Ashad’s end 2081 BS, the company has a paid-up capital of Rs 56.40 crores.
What Is FPO?
FPO (Follow-On Public Offering) is the process of issuing shares to the public by the company already listed on the stock exchange. If the company issues shares to the public for the first time, it is IPO (Initial Public Offering). FPO is any additional issue of shares by the company after IPO.
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