IPO Allotment of CYC Nepal Laghubitta Concludes: 36,948 Applicants Celebrate; 21,65,413 Return Empty-Handed
Thu, Apr 28, 2022 9:59 AM on IPO/FPO Result News, Stock Market, Latest,
The IPO allotment of CYC Nepal Laghubitta Bittiya Sanstha Limited is concluded today at the premises of the issue manager Global IME Capital, Naxal, Kathmandu.
CYC Nepal Laghubitta Bittiya Sanstha Limited had issued 3,95,336 units worth Rs 3.95 crore as Initial Public Offering to the general public from (Baisakh 2-6, 2078).
Of the total public issue, 0.5%, i.e. 6,082 shares have been reserved for employees while 5%, i.e. 19,766 shares for mutual funds. The remaining 3,69,488 shares are then for the individual public. Global IME Capital Limited is the issue manager for this IPO issue.
The issue had received applications from 2,202,361 valid applicants who had applied for a total of 24,483,650 units. The issue was oversubscribed more than 66.26 times.
As per the allotment module, a total of 36,948 applicants were allotted 10 units each via lottery, and lucky 8 applicants get 1 unit extra and the remaining 21,65,413 applicants were returned empty hands.
A total of 6,082 units were allotted to the staff of the company and 19,766 units were allotted to mutual funds.
In total 3,272 applicants who applied for 36,490 units were disqualified.
Allotment Module
The IPO result can be accessed by CDSC IPO Result, Global IME Capital, and MeroShare.
CYC Nepal Laghubitta is a microfinance company with its central office in Baglung. The company recently acquired Shaligram Laghubitta, another microfinance company with its central office in Beni, Myagdi. After a successful acquisition process, CYC Nepal Laghubitta and Shaligram Laghubitta have commenced joint operation in the name of CYC Nepal Laghubitta Bittiya Sanstha Limited from 29th Ashar, 2078.
After the acquisition, the authorized capital of the company has scaled to Rs. 20 crores and the issued capital has scaled to Rs. 12,16,41,837.04. Promoters own 67.5% of the company, the rest of which will be fulfilled via this IPO.
The microfinance company has 37 branches and serves more than 47,000 families at the national level.
