FPO Issue of Samata Gharelu Laghubitta Closing Today; Oversubscribed 50.50 Times So Far

Samata Gharelu Laghubitta Bittiya Sanstha Limited (SMATA) is closing the issue of its 3,50,904.25 unit FPO shares at a par value of Rs. 100 from today i.e. 20th Kartik, 2081. The issue opened on 12th Kartik, 2081.

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 for the company will be issuing 3,50,904.25 units of FPO shares to the general public. At present, the promoter: public share structure is a 73.80: 26.20 ratio, which after this FPO will be a 69.48: 30.52 ratio. The current paid-up capital of the company is Rs. 56.40 Crores.

The company intends to collect Rs 3.50 crore from this FPO.

Muktinath Capital Limited has been appointed as the FPO issuance issue manager. Applications can be placed for a minimum of 10 units and a maximum of 1000 units.

According to CDSC, 11,71,465 applications have applied for a total of 1,77,23,220 units. Thus, the issue has already been oversubscribed by 50.50 times so far.

ICRA Nepal has reaffirmed the BB-@ issuer rating for Samata Gharelu Laghubitta, keeping it under Watch with Negative Implications. This rating indicates a moderate risk of default on financial obligations. The + or - signs show the company's relative position within its rating category. The rating reflects the company’s general creditworthiness, not specific to any debt instrument.