IPO Allotment Of Upakar Laghubitta Concludes [IPO Result]

April 22, 2022 | Investopaper

IPO Allotment Of Upakar Laghubitta

The IPO shares of Upakar Laghubitta Bittiya Sanstha Limited has been allotted on Friday. Nepal SBI Merchant Banking Limited, the issue and sales manager, made the final allotment through lottery.

According the issue and sales manager, about 23,51,462 people have applied for the company’s IPO. Of these, 2,406 applications were rejected.

Out of the remaining 23,49,056 eligible applicants, 22,115 applicants were allotted shares at the rate of 10 shares each. Likewise, 6 applicants who applied for 20 shares received one additional share each.

The IPO result of Upakar Laghubitta can be viewed on the link below:

IPO Result of Upakar Laghubitta

Upakar Laghubitta IPO

Upakar Laghubitta Bittiya Sanstha Limited sold 266,250 unit shares to the general public from Chaitra 25, 2078 BS. The face value of each share is Rs 100. Hence, the total public issue amount is Rs 2.66 crores. Due to full subscription of shares, the public offering was closed on Chaitra 30, 2078 BS.

Out of the total issue, 3,281 shares are reserved for the employees of the company. Likewise, 11,813 shares are allotted to the mutual fund schemes. Hence, the general public can apply for the remaining 221,156 shares.

Interested investors could submit the application for a minimum of 10 shares and 1,000 shares.

Securities Board Of Nepal (SEBON) granted the approval to the company for public issuance on Chaitra 7, 2078 BS. The company had submitted the application to the board on Shrawan 13, 2078 BS.

Upakar Laghubitta appointed Nepal SBI Merchant Banking Limited as the issue manager for the IPO. Similarly, Nepal SBI Merchant will also work as the registrar to share (RTS) of Upakar Laghubitta.

After the issue of IPO, the general public will possess 36 percent share in the company (if fully subscribed). Likewise, the promoters will own 64 percent shares.

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About Upakar Laghubitta Bittiya Sanstha Limited

Upakar Laghubitta is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started its operation on March 27, 2019. The head office is located at Kohalpur, Banke. It is providing microfinance services in Province 5.