Kathmandu: In the IPO of Abhiyaan Laguvitta, applications worth 1 billion 63 crore 66 lakh 62 thousand rupees have been received. According to CDS, 14 lakh 30 thousand 406 people have applied for 1 crore 63 lakh 66 thousand 620 shares till 1:46 pm today.
This is 17.91 times more applications than demand. The company has issued 975,000 ordinary shares at the rate of Rs. 100 per share from 18th July.
Out of this, 5% i.e. 48 thousand 750 shares are allocated to collective investment fund and 0.5% i.e. 12 thousand 500 shares are allocated for employees. General public can apply for the remaining 9 lakh 13 thousand 750 shares.
Applications can be submitted till 22nd of July. Investors can apply for a minimum of 10 shares to a maximum of 3,000 shares.
Investors will be able to fill up shares through C-ASWA accredited banks and financial institutions and through My Shares. ICRA Nepal has given ICRANP Issuer Rating ‘Double B Minus’ to Microfinance.
It indicates that there is moderate risk in the company’s ability to meet its obligations. Muktinath Capital is the sales manager for this IPO.