Kalika Micro Credit distributing share certificates from today

ShareSansar, December 4:

Kalika Micro Credit Development Bank Limited is distributing the share certificates of two lakh units of equity shares to the allottees of its IPO held in September.

Issuing a notice today, the micro credit development bank has urged the allottees to contact the centers where they had submitted their applications during the IPO.

NMB Capital Limited is the issue manager of the IPO, which was oversubscribed by more than 58 times.

Among the 2 lakh units floated through the IPO in the market at the rate of Rs 100 per unit, 4,000 units were reserved for its staff and 10,000 units were reserved for the mutual funds.

Of the 10,000 shares allotted to the mutual funds, the micro credit development bank had set aside 5,000 unit shares to Nabil Balance Fund and the remaining 5,000 units to Sidhartha Investment Growth Plan-1.

Kalika Micro Credit Development Bank, which is based at Waling in Baglung, was registered with the Securities Board of Nepal on September 4 and as a ‘D” class institution with the Nepal Rastra Bank on September 6.

The general public had bid for a minimum of 20 IPO units to a maximum of 5,000 units when the IPO opened on September 19.

In Kalika Micro Credit has an authorized capital of 10 crore, current capital of Rs 5 crore and a paid-up capital of Rs 3 crore.

After the issuance of the IPO to the general public, its paid-up capital has surged to Rs 5 crore.