Both Kalika Microfinance And Sanima Mai Hydro IPO allotment on Friday

ShareSansar, October 29:

The allotment of IPO equity shares of Kalika Micro Credit Development Bank Limited and Sanima Mai Hydropower Limited will take place this week.

NMB Capital Limited, the Issue manager of Kalika Micro Credit, has informed that it will allot Kalika’s IPO mostly on Thursday or Friday itself, and NIDC, the issue manager of Samina Mai Hydropower, has said that Sanima’s IPO will be allotted on Friday.

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 will be 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.