Final day of Janautthan IPO collection; oversubscribed by 100 times already

ShareSansar, March 4:

Janautthan Samudayic lagubitta Bikas Bank Limited (JSLBBL) has started floating its Initial Public Offering (IPO) from March 1. Today is last day of IPO. The IPO is oversubscribed by approx 100 times till today’s morning time.

The issue is managed by Growmore Merchant Banker Limited and the offer will close today. The maximum closing date has been set for Chaitra 1.

According to the Growmore Merchant Bank official, the total collection till today morning 10:00 AM stood out to be approximately Rs 90 crore. Moreover, the final data is yet to be compiled and the report has not been yet submitted by the branches, informed the official.

Janautthan is floating a total 90,000 units of ordinary shares at face value of Rs 100.

The bank has set aside 4,500 units of shares for the mutual funds. The mutual fund companies who have bought the shares are Nabil Balance fund 1, Siddhartha lagani Briddhi Yojana-1, Siddhartha Equity-Oriented Scheme, NMB Sulav Fund-1 and NIBL Sambriddhi Fund-1.

Likewise, 2,700 units have been allocated to the staff member of Janautthan. Therefore, common investors can apply only for the remaining 82,800 units of shares.

An applicant must apply for a minimum of 10 units i.e. Rs 1,000 investment, while they can apply for a maximum of 2,000 units. Or Rs, 2,00,000 in one name.

The collection centers details are in the table below:

The existing paid up capital of the company is Rs. 1.10 crore and after issuing the IPO the development bank paid up Capital will rise to Rs 2 crore.

It earned a net profit of Rs 26.10 lakh in the fiscal year 2070/71 and has Rs 29.94 lakh in its reserve fund.  The company’s EPS stands at Rs 23.73.