Sabaiko Laghubitta IPO allotment to happen tomorrow; approximately 83% of the applicants to return empty handed

Sabaiko Laghubitta Bittiya Sanstha Limited had closed the issue of 5,30,000 units ordinary shares worth Rs 5.30 crore to the general public from Shrawan 5, 2076. The issue was open from Shrawan 1, 2076.

NIBL Ace Capital Limited was appointed as the issue manager for the IPO issuance. As per the issue manager, the allotment process of the issue will take placer tomorrow (10^th Shrawan, 2076) at the premises of NIBL Ace Capital from 10 AM onwards.

Out of the offered 5,30,000 units; 0.5% of issue capital i.e. 8,250 units have been set-aside for the employees of the company and 5% of total offered share to general public i.e. 26,500 units have been set-aside for the mutual funds. The remaining 4,95,250 units are for the general public.

The issue had received 303,208 applicants applying for a total of 5,689,830 units of shares till closing. The issue has been oversubscribed by 10.74 times. However, this data is unverified and includes invalid applications as well.

Only 49,525 lucky applicants will receive 10 units each via lottery. Around 83% of the applicants will return empty handed.

The microfinance collected Rs.33.65 Crore as deposits and floated Rs.1.41 Arba as loans and advances by the end of the third quarter of the current fiscal year. The Non-Performing Loan (NPL) of the microfinance company stands at 0.19%.

In the third quarter of the fiscal year 2075/76, the net profit of the company has been reported to be Rs.2.19 Crore compared to a net loss of Rs.32.20 Lakhs reported in the corresponding quarter of the previous year.