26,00,000 units IPO shares of Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) have been listed in NEPSE.
The IPO allotment of Rastra Utthan Laghubitta Bittiya Sanstha Limited concluded recently. The company had issued 8,50,000 units worth Rs 8.50 crore as Initial Public Offering to the general public from (Falgun 4-8, 2078).
Out of the offered 8,50,000 units; 0.5% of the issued capital i.e. 13,000 units were set aside for the employees of the company and 5% for mutual funds. The remaining 7,94,500 units were for the general public. The issue received applications from 25,79,402 valid applicants who had applied for a total of 2,93,97,680 units. The issue was oversubscribed more than 37 times. As per the allotment module, a total of 79,450 applicants were allotted 10 units each via lottery, and the remaining 24,99,952 applicants were returned empty hands.
A total of 13,000 units were allotted to the staff of the company and 42,500 units were allotted to mutual funds. In total 5,859 applicants who applied for 69,530 units were disqualified.
The company’s executive director had thanked applicants for their vote of confidence. He said that the microfinance company has the ability and expertise to transition and operate as a Development Bank if the regulatory arrangement permits in the future.
The opening range is set from Rs. 167.43 to Rs. 502.29. If the first transaction can happen at this range in the pre-market session, the shares will be traded from coming Sunday’s trading session itself.