The company issued the FPO on May 25-31.
According to Muktinath Capital, issue manager for the company, a total of 1.4 million applicants have applied for 16.3 million units of shares worth Rs 1.63 billion. It is 43 times of offered 379,425 units of shares.
Given that the issue has been oversubscribed, the allotment will take place as per Securities Issuance and Allotment Guidelines under which minimum of 10 units of shares will be allotted through lottery.
As per the guidelines, only 37,942 applicants will obtain 10 units of shares.
The company issued 379,425 units of ordinary shares worth Rs 37.9 million at a face value of Rs 100. The joint entity of former Unique Nepal and Ghodighoda Laghubitta has share structure of 94.01:5.99 of promoter and ordinary shareholders. As per the direction given by NRB during merger approval and Banks and Financial Act 2073, the company issued the FPO.
Currently, the company has paid-up capital of Rs 110.6 million which will reach rs 148.5 million after the FPO. Following the issue, the share structure of the company will maintain at 70:30 of promoter and ordinary shareholders.
