RSDC Laghubitta IPO collected Rs 82 crore from 17,000 applicants on first day; oversubscribed by 22.04 times

RSDC Laghubitta Bittiya Sanstha Limited has been issuing 4, 00,000 unit shares worth Rs 4 crore as part of its initial public offering (IPO) from Bhadra 5, 2073 (yesterday) at face value of Rs 100. Today is the second day of the IPO. The IPO is oversubscribed by 22.04 times on the very first day (yesterday).

Mr.Badri Pyakurel, Merchant Banking head of NIBL Capital Markets Limited said , “The total collection of the IPO is approximately Rs 82 crore till yesterday. Around 17,000 application forms were received.”

The offer will close on Bhadra 8, 2073.

Interested investors must apply for a minimum of 50 units of share and they can apply for up to 4,000 units of share.

The microfinance company has set aside 8, 000 unit shares for its employees and 20, 000 unit shares for the existing 7 mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside 3, 72, 000 unit share to the general public.

NIBL Capital Markets Limited is the issue manager for IPO.

The microfinance company plans to raise Rs 4 crore through the offer. After the IPO, the paid up will reach Rs 10 crore from the current Rs 6 crore. It’s authorized capital stand at Rs 20 crore.

After the IPO, the promoter-public ratio of the company will be 60 % to 40%.

RSDC Laghubitta earned net profit of Rs 1.50 crore in Q4 of the last fiscal year 2072/73.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below average fundamentals to the proposed initial public offering (IPO) of RSDC Laghubitta.

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