As per the existing provision, the IPO issuant company require to pre-allot the shares three days before the allotment and inform Securities Board of Nepal. Based on the same provision, the company is set to allot the IPO on Monday. The company has already informed SEBON of the same on Friday.
Previously, the capital was preparing to allot the IPO on Saturday August 29, however, on the day Reliance Life Insurance allotted its IPO due to which the allotment was forwarded for Monday. It is done because SEBON directed companies to avoid multiple issuing and allotment of IPO so that meroshare software would not have to bear the overload.
In the pre-allotment, 8,070 applicants are provided 10 units of shares through a lottery. The number of valid applicants in the IPO is 547,370.
Samaj Laghubitta issued primary shares worth Rs 8.6 million to the general public from August 20-24. The company issued 86,000 units of primary shares having face value of Rs 100. Out of the total offered shares, the company allotted 5 percent to mutual funds and another 5 percent to employees. The general public could apply for the remaining 80,700 units of shares.