IPO of Janasewi Laghubitta Oversubscribed in Just One Hour

May 10, 2019 Merolagani

The IPO of Janasewi Laghubitta (JSLBSL) has been oversubscribed in just one hour of issuance. As per NMB Capital, issue manager of the company, it has already received 25,000 applications demanding 450,000 shares.

Janasewi Laghubitta is issuing 32.10 percent shares of the issued capital of Rs 144.3 million. The company is issuing 463,300 units of shares worth Rs 46.3 million to the general public.

The company has appointed NMB Capital as its issue manager. The interested investors can apply for a minimum of 10 to maximum of 1000 units of shares through all C-ASBA approved BFIs and meroshare software.

Out of the total offered shares, the company has allocated 23,165 to mutual funds and 7145 units to employees. The public can apply for remaining 432,990 units of shares. After the IPO issuance, the paid-up capital of the company will amount Rs 144.3 million.

ICRA Nepal has assigned grade 4 to the IPO indicating below average fundamentals.

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