The IPO allotment of Jalpa Samudayik Laghubitta Bittiya Sanstha Limited has been concluded on Sunday.
It had issued 5,22,000 units worth Rs 5.22 crore as Initial Public Offering (IPO) to the general public from (Magh 21-25, 2078).
Out of the offered 5,22,000 units; 0.5% of the issue, i.e. 8,000 units have been set aside for the employees of the company and 5%, i.e. 26,100 units to mutual funds. The remaining 4,87,900 units are for individual investors.
The issue had received applications from 25,91,702 valid applicants who had applied for a total of 3,07,16,830 units. The issue was oversubscribed more than 62.95 times.
As per the allotment module, a total of 48,790 applicants were allotted 10 units each via lottery, and the remaining 25,42,912 applicants were returned empty hands.
A total of 8,000 units were allotted to the staff of the company and 26,100 units were allotted to mutual funds.
The IPO result can be accessed by CDSC IPO Result, Prabhu Capital, and MeroShare.
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited started joint operation in December 2020 following the merger of two regional level microfinance: Jalpa Laghubitta Bittiya Sanstha Limited, which was operating in 10-district since March 2019, and another Mahila Samudayik Laghubitta Bittiya Sanstha Limited which was operating in 10-district since February 2019.
The company is currently operating in 19 districts through 76 branches. Srijana Development Centre(32%), Nepal Women Community Service Centre (24%), Prime Commercial Bank Limited (6%), Jyoti Bikas Bank Limited (5%), Pokhara Finance Limited (5%) are the major promoters of the company.
ICRA Nepal has assigned the issuer rating of [ICRANP-IR] BB (pronounced ICRA NP Issuer Rating Double B) to the JSLBSL. Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.
