Mahuli Laghubitta’s FPO Allotment Scheduled for Friday

The allotment of Mahuli Laghubitta’s Further Public Offering (FPO) is set to take place tomorrow, Friday. According to the sales manager, Laxmi Sunrise Capital, the allotment will be held at 10:30 AM at its office in New Baneshwor, Kathmandu.

With applications exceeding the issuance by 52.34 times, securing shares from this FPO will largely depend on luck through a lottery process. Mahuli Laghubitta had issued 475,449 shares, but 1,758,853 applicants applied for a total of 24,885,840 shares.

Out of all the applicants, only 47,545 lucky investors will receive shares, while 1,711,308 applicants will be left empty-handed.

The FPO, worth NPR 47,544,915, was open for applications from December 20 to December 24, offering shares at a face value of NPR 100 each.

Credit rating agency ICRA Nepal has assigned a ‘ICRA Issuer Rating B Minus’ to the FPO, indicating a moderate capacity of the company to meet financial obligations.

The allotment process will be conducted through a lottery system under the management of Laxmi Sunrise Capital, the issue and sales manager for Mahuli Laghubitta.