Samudayik Laghubitta IPO oversubscribed by more than 60 times; Only 27,300 applicants to be allotted shares

Samudayik Laghubitta Bittiya Sanstha Limited’s IPO has received applications from more than 2 Lakh applicants in total. The issue has been oversubscribed by more than 60 times. A total of 254,693 applicants have applied for shares worth Rs.1.65 Arba till the final day of the issue.

Out of the total applicants, only 27,300 applicants will be allotted 10 units of shares through lottery system.  Out of the 3,00,000 units; 12,000 units have been set aside for the employees and 15,000 units have been set aside for the investment funds while the remaining 2,73,000 units will be for the general public.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance.

The company recently posted decent growth in net profit by 40.67% to Rs 40.43 lakh in the first quarter (Q1) of fiscal year 2075/76. The microfinance institution has stated that its operating profit has also increased to Rs 63.54 lakh in Q1 from Rs 45.17 lakh in the corresponding quarter of the last fiscal year.