The Manakamana Smart Laghubitta IPO allotment ends with lucky 36,349 investors getting 10 shares each while the rest of the people returned empty handed
In the office of issue manager NMB Capital Limited today, Manakamana Smart Laghubitta Bittiya Sanstha Limited issued its initial public offering.
As part of the initial public offering to the general public, Manakamana Smart Laghubitta Bittiya Sanstha Limited sold 3,89,000 units for Rs 3.89 crore from (Ashad 17-21, 2078).
The company has offered 3,889,000 units of which 0.5% of the capital has been set aside for employees and 5% have been allocated to mutual funds out of the 3,89,000 units being offered. The public will own 3,63,492 of the remaining units.
Applicants had submitted 19,51,521 valid applications for a total of 2,50,95,370 units in the issue. More than 69.03 times were oversubscribed to this issue.
Using the allotment module, a total of 36,349 applicants were allotted 10 units each via lottery, two lucky applicants got one extra unit, and the remaining 19,15,172 applicants were unallocated.
The company allocated 6,058 units to 79 employees and 19,450 units to 13 mutual funds.
We disqualified 2,753 of the 37,920 applicants who applied.
Soon, IPO results will be available through
After the IPO issuance of 3,89,000 units, its shares will increase to Rs 12.11 crore and the promoter/public ratio will be 67.89:32.11.
Manakamana Smart Laghubitta Bittiya Sanstha Limited (MSLBSL) is rated as [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus) by ICRA Nepal. Defaults in the timely servicing of financial obligations are considered moderate for issues with this rating.
Manakamana Laghubitta Bittiya Sanstha Limited has been licensed by the Central Bank as a microfinance institution for 10-district level since February 2018. The two companies later merged and joined forces to operate as a province-level regional MFI (licensed to operate in Province 5) under the name Manakama Smart Laghubitta Bittiya Sanstha Ltd (MSLBSL). In addition to 69 individual promoters, MSLBSL is backed by 19 corporate sponsors.
The founder and Chief Executive Officer of the company is Dev Singh Bista. In Nepal, MSLBSL has its registered office and corporate headquarters in Shuddharthanagar-5 Rupandehi.