Kalika Microfinance IPO gets listed

ShareSansar, January 20:

The ordinary shares of two lakh units, which were floated in the Initial Public Offering (IPO) by Kalika Micro Credit Development Bank Limited, have been listed today.

The Chief Executives of the microfinance development bank and the NEPSE signed an agreement for the listing of the shares amid a function held at the stock exchange this afternoon, sources informed ShareSansar.

Now the shares will be floated for trading in a week’s time.

The IPO issued by Kalika in November was oversubscribed by 60.699 percent, according to the issue manager, NMB Capital.

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.

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

Before the IPO, Kalika Micro Credit had an authorized capital of 10 crore, issued capital of Rs 5 crore and a paid-up capital of Rs 3 crore.

The micro credit development bank has stated that after the IPO, its paid-up capital has risen to Rs 5 crore.