Allotment of Kalika IPO over; shares allotted flatly at 1.647 percent, up to 550 under lottery

ShareSansar, November 1:

The allotment of IPO equity shares of Kalika Micro Credit Development Bank Limited has taken place today.

As 56.02 percent of the applicants were from the small group, the allotment was made flatly at 1.647 percent, and the applications for up to 550 units were put to lottery.

The 2 lakh unit of the IPO was oversubscribed by 60.699 percent, the issue manager NMB officials informed during the allotment held at NMB Capital Limited’s Office in the morning.

Of the total 23, 458 applications, excluding 32 applications from the staff, only 23,258 applications were valid.

Despite the fact that the IPO was massively oversubscribed, some investors, who fell under the lottery, were really lucky.

For instance, there was only one application each for 530 and 540 units of the IPO.

Likewise, there was only there were only 6 applicants under 240 units, only 7 applicants for 280 units, only 3 for 340 units.

Among the bigger investors, outside the lottery, there was only 1 applicant each for 590 units though there were 22 applicants for 600 units.

The total number of valid small investors stood at 21,770, and the big investors at 1,515.

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