Day Before Closing, Wean Nepal Laghubitta’s FPO Oversubscribed Over 337.29 Times

The ongoing Further Public Offering (FPO) of Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB), comprising 51,292.5 units at a par value of Rs. 100 per share, is set to close tomorrow, i.e., 26th Chaitra, 2081. The issue was opened on 21st Chaitra, 2081.

Through this FPO, the company is offering 51,292.5 shares at a par value of Rs. 100 each, aiming to raise Rs. 51.29 lakhs. Nepal SBI Merchant Banking Limited has been appointed as the FPO issuance manager. Applications can be placed for a minimum of 10 units and a maximum of 1,000 units.

According to CDSC, a total of 14,53,631 applications have been received for 1,73,00,550 units, indicating that the issue has already been oversubscribed by 337.29 times as of the day before closing.

CARE Ratings Nepal Limited (CRNL) has reaffirmed the issuer rating of CARE-NP B (Is) assigned to Wean Nepal Laghubitta Bittiya Sanstha (WNLB). Issuers with this rating are deemed to present a high risk of default in meeting financial obligations in Nepal on time.