Kalika and Sanima Mai IPO share allotment before Tihar

ShareSansar, October 22:

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

Issue manager of Kalika Micro Credit, NMB Capital Limited and the issue manager of Samina Mai Hydropower told ShareSansar today.

However, the investors most probably will have to wait till the end of the festive season for the cash refund, the issue managers added.

Likewise, the allotment of IPO shares of Naya Nepal Lagubitta Bikash Bank will take place only after Tihar.

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.

While Kalika’s IPO was oversubscribed by more than 58 times Samina Mai Hydropower’s IPO was oversubscribed by more than 30 times.

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.

Similar was the situation with the IPO floated by Naya Nepal Lagubitta Bikash Bank, which closed earlier in October. It was oversubscribed by more than 50 times.

The microfinance development bank had floated 60,000 unit equity shares of face value Rs 100 each on October 3.