FPO Allotment of Unnati Sahakarya Laghubitta Bittiya Sanstha Concludes; Just 17,845 Applicants out of 10,72,443 Get 10 Units Each
Fri, Nov 24, 2023 9:49 AM on IPO/FPO News,
The FPO allotment of Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) is concluded today at the premises of the issue manager Siddhartha Capital Limited, Kathmandu.
Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) had issued 1,78,451.18 unit FPO shares at par value of Rs 100 to the general public from 21st to 24th Kartik, 2080.
According to the Banks and Financial Institutions Act (BAFIA), 2073 and the NRB, at least 30% of the issued capital should be retained by public shareholders. For that company had issued 1,78,451.18 units of FPO shares to the general public. At present, the promoter: public share structure is a 75.45: 24.55 ratio, which after this FPO will be a 70: 30 ratio. The current paid-up capital of the company is Rs. 22.9 Crores.
The issue had received applications from 10,72,443 valid applicants who had applied for a total of 1,17,20,860 units. The issue was oversubscribed by more than 65.68 times.
As per the allotment module, a total of 17,845 applicants were allotted 10 units each via lottery and lucky 1 applicant got 1 unit extra and the remaining 10,54,598 applicants were returned with empty hands.
In total 325 applicants who applied for 3,580 units were disqualified.
Allotment Module:
The IPO result can be accessed by CDSC IPO Result, MeroShare, and Siddhartha Capital Limited.
ICRA Nepal has downgraded the issuer rating of Unnati Sahakarya Laghubitta Bittiya Sanstha Limited from [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating double B minus) to [ICRANP-IR] B+@ (pronounced ICRA NP Issuer Rating B plus) and placed the rating on watch with negative implications. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.
