Wean Nepal Laghubitta Successfully Allots FPO Shares via Lottery System

On Baishakh 07, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) completed the allocation process for its Follow-on Public Offering (FPO). The distribution took place at Nepal SBI Merchant Banking Limited, the appointed issue and sales manager.

The microfinance institution had issued a total of 51,292.5 shares in the FPO, with each share priced at a nominal value of R 100, totaling Rs. 51,29,250. The offering was open from Chaitra 21 to 26, 2081.

The microfinance institution had issued an FPO of 51,292.50 units at a face value of Rs. 100 per share, totaling Rs. 5,129,250. According to the issue and sales manager, Nepal SBI Merchant Capital, the FPO received a total of 1,923,490 applications, demanding 22,176,840 units. Out of these, 2,523 applications were rejected, while 1,920,939 applications were approved.

Due to oversubscription, the FPO of the laghubitta company was allotted through a lottery process. As per the allotment, a total of 5,129 applicants received 10 units of shares each. From the remaining 2.50 units, after the general allotment, three applicants among those 5,129 were selected for further distribution. Accordingly, two applicants received 11 units each, while one applicant received 10.50 units of the share.

This successful FPO marks a significant milestone for Wean Nepal Laghubitta Bittiya Sanstha as it continues to expand its shareholder base and solidify its presence in the Nepali financial sector.

The IPO result can be accessed by CDSC IPO Result, MeroShare, and Nepal SBI Merchant Banking Limited.