Aarambha Microfinance IPO allotted in 36 hours of closing; C-ASBA proved revolutionary to primary market
Wed, Mar 7, 2018 2:09 PM on Latest, IPO/FPO Result News, Featured, Stock Market,
NIC Asia Capital Limited, the issue manager for the IPO of Aarambha Microfinance Bittiya Sanstha Limited, has concluded the allotment of 2,94,000 unit IPO shares within 36 hours of closing of the issue, making a history in Nepali capital market.
The surprise allotment was concluded amidst a press meet organized by CDS & Clearing Limited regarding successful implementation of C-ASBA. Apart from the units reserved for staffs and mutual funds, 27,048 applicants were allotted 10 units each through lottery. 8,820 units were allotted to the staffs and 14,700 units were allotted to mutual funds.
The program had presence of Chandra Singh Saud, GM of Nepal Stock Exchange, Dr. Rewat Bahadur Karki, chairman of SEBON and officials from SEBON, NIC Asia Capital and CDSC.
Speaking in the program, Dr. Karki said, “In India, allotment takes 6 days and our goal was to do before that day. We succeeded to bring down the time from 45 days to a mere 36 hours.”
“It took 8 years for India to implement C-ASBA after implementing ASBA service, but we were able to do it in 1 year”, added Dr. Karki.
Individual lottery results can be checked at ShareSansar’s IPO Result section later today.
Aarambha Microfinance had opened the public issue from Falgun 15 to Falgun 19, 2074.
Allotment Module:
The surprise allotment was concluded amidst a press meet organized by CDS & Clearing Limited regarding successful implementation of C-ASBA. Apart from the units reserved for staffs and mutual funds, 27,048 applicants were allotted 10 units each through lottery. 8,820 units were allotted to the staffs and 14,700 units were allotted to mutual funds.
The program had presence of Chandra Singh Saud, GM of Nepal Stock Exchange, Dr. Rewat Bahadur Karki, chairman of SEBON and officials from SEBON, NIC Asia Capital and CDSC.
Speaking in the program, Dr. Karki said, “In India, allotment takes 6 days and our goal was to do before that day. We succeeded to bring down the time from 45 days to a mere 36 hours.”
“It took 8 years for India to implement C-ASBA after implementing ASBA service, but we were able to do it in 1 year”, added Dr. Karki.
Individual lottery results can be checked at ShareSansar’s IPO Result section later today.
Aarambha Microfinance had opened the public issue from Falgun 15 to Falgun 19, 2074.
Allotment Module:
