Reliance Lotus FPO allotment: Small & Big investors allotted 13.2 % & 8.23% respectively, No lottery

Reliance Lotus Finance Limited (RLFL) has concluded its IPO allotment today at the premises of issue manager NCM Merchant Banking Limited at Kamalpokhari, Kathmandu.

Investors who had applied from Rs 9000 or 90 units to Rs50,000 or 500 units were allotted 13.2% on pro-rata basis. Investors who applied Rs 51,000 or 510 units and above were allotted 8.23 %. The investors who applied from 50 to 8 units got 10 units each. Every valid applicant got the share as there was no lottery.

 Reliance Lotus had floated its Further Public Offering (FPO) from Poush 5 to Poush 8, 2072. The FPO had collected Rs. 51.42 crore (Oversubscribed by 10 times).

Of the total 5,14,286 unit shares set aside for public, 40% or  205,714 units shares, were put aside for retail investors and 60% or 3,08,572 units shares, under “other investor” category.

Of the total 6571 applicants’ 6570 investors got the shares. There was only one  invalid applicant.

At present promoter- public ratio is at 70% to 30%. After the FPO the finance might convert its 19% promoter share into public share making the promoter- public share 51% to 49% in the near future.

The Last traded price of RLFL was Rs 173 per unit as of January 14, 2016.