FPO Issue of Suryodaya Womi Laghubitta Closing Today; Oversubscribed 405.14 Times So Far

Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) is closing the issue of its 46,729.5450 unit FPO shares at a par value of Rs. 100 from today i.e. 8th Shrawan, 2081. The issue opened on 4th Shrawan 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 46,729.5450 units of FPO shares to the general public. At present, the promoter: public share structure is a 70.36: 29.64 ratio, which after this FPO will be a 70: 30 ratio. The current paid-up capital of the company is Rs. 91.07 Crores.

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

According to CDSC, 12,88,818 applications have applied for a total of 1,89,31,900 units. Thus, the issue has already been oversubscribed by 405.14 times so far.

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.