Upakar Laghubitta Bittiya Sanstha Limited will allot its Initial Public Offering (IPO), on Friday.

The process of allotment will be take place on the premises of Nepal SBI Merchant Bank, which is the the issue manager. The issuance an will begin at 8 am on April 22, 2022.

Earlier, the company had issued its IPO from April 8 to April 13. The company has a total of 6,56,250 registered shares among which it had opened applications for 2,36,250 shares via IPO.

Hence, the IPO will contribute a sum of Rs. 2,36,25,000 in paid-up the capital. Of the total public issue, 0.5%, i.e. 3,281 shares were separated for employees while 5%, i.e. 11,813 shares for mutual funds. The remaining 2,21,156 shares were for the individual public.

It has been learnt that a total of 24,31,170 applicants applied for 2,75,65,230 units. This is the data as of 5:02 pm on the day that the issue closed, which is an oversubscription of 124.64 times.

Therefore, only 22,115 lucky applicants will get ownership of the company.