Suryodaya Womi Laghubitta's FPO Allotment To Be Concluded On Wednesday; 4,672 Applicants Get 10 Units Each

The FPO allotment of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) will occur on Wednesday, i.e. on 16th Shrawan, 2081. The allotment program will be held at the premises of Kumari Capital Limited, Nagpokhari, Kathmandu at 8:00 AM.

According to the Banks and Financial Institutions Act of 2073 and the NRB, at least 30% of the issued capital should be retained by public shareholders for the company will be issuing 46,729.5450 units of FPO shares to the general public. At present, the promoter: public share structure is a 70.36: 29.64 ratio, which after this FPO will be a 70: 30 ratio. The current paid-up capital of the company is Rs. 91.07 Crores.

According to data presented by CDSC, the issue has received approximately 16,56,826 applications applying for a total of 2,38,37,900 units of shares till the closing day. Thus, the FPO was oversubscribed by 510.12 times in terms of the number of units through ordinary applicants.

Thus, the issue manager stated that 4,672 applicants would get a minimum of 10 units. Furthermore, 9 lucky applicants will get the extra 1 unit, and hence, will be awarded a total of 11 units each.

CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP BB (Is)’ to Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF). Issuers with this rating are considered to offer the moderate risk of default regarding the timely servicing of financial obligations, in Nepal.