Allotment of Kalika and Sanima Mai IPOs today

Allotment of Kalika and Sanima Mai IPOs today

ShareSansar, November 1:

The allotment of IPO equity shares of Kalika Micro Credit Development Bank Limited and the allotment of Sanima Mai Hydropower Limited is taking place today.

Allotment of Kalika’s IPO will take place at NMB Capital Limited’s Office at 10:00 AM while allotment of Samina Mai’s share will take place at Sanima Bank Building at Narayanchour, Naxal at 3:00 PM.

We will be updating you on the much awaited IPO allotments later in the day.

NMB Capital Limited is the Issue manager of Kalika Micro Credit and NIDC is the issue manager of Samina Mai Hydropower.

However, the investors will have to wait till the Tihar festival is over for the cash refund.

As Kalika’s IPO was oversubscribed by around 60 times, and there was a huge response from the small investors, too, its IPO will be allotted flatly to all the investors at 1.65 percent on the basis of the proportion of the investment.

However, those who have applied for up to 580 units will be placed under the lottery system because as per the rule a minimum of 10 units of shares must be allotted to an investor.

Similarly, the investors who had applied for up to 250 unit shares of Sanima hydropower are placed under the lottery, though there will be separate range for the small and big investors.

According to sources, shares are likely to be allotted to small investors at 4 percent of the investment, and for the big investors at 3 percent.

Kalika had floated 2 lakh unit IPO shares in the market at the rate of Rs 100 per unit on September 19. Samina Mai Hydropower had issued its IPO of 21.1 lakh equity shares of face value Rs 100 each on September 20.

There was a massive response to both the IPOs in the market though the issuance of IPO had coincided—thanks to surplus liquidity in the capital market, among other things.

Kalika’s IPO drew more than 22,800 applicants –both small and large investors and some 60,000 applicants had applied for Sanima Mai’s IPO, according to the issue managers.