FPO Allotment of Suryodaya Womi Laghubitta Concludes; 4,672 Applicants Out Of 15,63,322 Gets 10 Units

The FPO allotment of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) is concluded today at the premises of Kumari Capital Limited, Nagpokhari, Kathmandu.

Suryodaya Womi Laghubitta had issued 46,729.5450 units worth Rs 46.72 lakh as Further Public Offering (FPO) to the general public (Shrawan 04- 08, 2080).

The current paid-up capital of the company is Rs. 91.07 crores of which 70.36% of shares are of the promoter shareholders in the company while 29.64% shares are of the public shareholders. However, according to the Banks and Financial Institutions Act of 2073 and the NRB, at least 30% of the issued capital should be retained by public shareholders in order to retain that the company issued 46,729.5450 units of FPO shares to the general public.

The issue had received applications from 15,63,322 valid applicants who had applied for a total of 22,108,710 units. The issue was oversubscribed by more than 510.12 times.

As per the allotment module, a total of 4672 applicants were allotted 10 units each via lottery and 9 lucky applicants got 1 unit extra and the remaining 15,58,650 applicants were returned with empty hands.

In total 1,101 applicants who applied for 19,170 units were disqualified.

Allotment Module:

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Kumari Capital Limited.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB (Is)’ to Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF). Issuers with this rating are considered to offer the moderate risk of default regarding the timely servicing of financial obligations, in Nepal.