Saptakoshi IPO allotment concludes; up to Rs 40K thru lottery, 50 lakh investors got 1170 units

ShareSansar, July 16:

Saptakoshi Development Bank Limited has concluded its IPO allotment of 4 lakh units today at the premises of issue manager NMB Capital Market Limited at BabarMahal, Kathmandu at 5:30 PM. ShareSansar will be publishing the full IPO result on its website soon.

Also, for the first time in Nepal investors can see the result of IPO through SMS, applicants need to type SDB (space) Application number and send the message to 2200 to get the result.

Allotment for investors who had applied from Rs 5,000 or 50 units to Rs 40,000 or 400 units shares was decided through lottery. Rs 50 thousand or 500 unit investors allotted 12 units or 2.4 % shares, Likewise Rs 5 lakh investors allotted 117 units or 2.34% shares and Rs 50 lakhs investors allotted 1170 units or 2.34% shares.

Biratnagar based Saptakoshi Development Bank Limited had floated 4,00,000 unit shares of Rs 100 face  as part of its Initial public offering (IPO) on 21st Jestha, 2072. The issue was closed on Jestha 25, 2072.

Of the total 3,72,000 shares set aside for public, 40% or 1,48,800 shares, were put aside for retail investors and 60% or 2,23,200 shares, under “other investor” category. Retail investors applied for a total of 62,83,020 unit shares and those in the others category demanded 95,58,510 kittas.

The shares set aside for retail investors were oversubscribed by  42.23 times and those set aside under other category were oversubscribed 42.82 times.

Of the total 30,058 applicants’s only 17,818 Investors got the shares.  

Small Investors applying for shares worth Rs 41,000 to Rs 50,000 have been allotted to 2.401 % of the total applied amount.

Big investors recognized here as those applying for shares worth more than Rs 51,000 to Rs 50,00,000 have been allotted to 2.335 % shares.

There were 59 invalid applicants. Altogether 36 staffs were allotted 8,000 units and six mutual fund companies were given unit 20,000 shares.

Of the total shares allocated for mutual fund companies, 4,000 units each has been allocated to Nabil Balance Fund – 1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, and Laxmi Value Fund -1 and Other two mutual fund schemes Siddhartha Investment Growth Scheme- 1 and Siddhartha Equity Oriented Scheme  have been allocated 2,667 units and 1,333 units respectively.

The bank earned a net profit of Rs 15.16 lakh by the end of Poush 2071/72. It had mobilized deposits worth Rs 32.05 crore during the same period. The banks EPS stood at Rs 5.15 and networth per share at Rs 106.16.