Kisan Microfinance IPO allotment concludes through lottery to all 33,826 applicants

ShareSansar, July 27:

Kisan Microfinance Bittiya Sansatha Limited has concluded its IPO allotment today at 5:00 PM at the premises of its issue manager Civil Capital Market Limited at Kamaladi, Kathmandu.

ShareSansar has published the full IPO result on its website.

Also, for the first time in Nepal investors can see the result of IPO through SMS, applicants need to type KMF (Space) Application number and send the message to 2200 to get the result.

Of the total 73,600 shares set aside for public, 40% or 29,440 shares were put aside for retail investors and 60% or 44,160 shares under “other investor” category.  Retail investors applied for a total of 41,41,670 unit shares and those in the others category demanded 73,07,810 kittas.

Since the allotment took place through lottery, all investors were eligible for a minimum of 10 shares.

Given the high number of applicants, allocation on pro rata basis was not possible so the allotment was made through lottery system. Allotment of all applicants from minimum Rs 5,000 to maximum Rs 1,00,000 investors were decided through lottery.

The shares set aside for retail investors were oversubscribed by 140.68 times and those set aside under other category were oversubscribed by 165.48 times.

Of the total 33,826 Applicant’s only 7,360 investors were allotted the shares.  

Accham district based --Kisan Microfinance BittiyaSanstha had floated its initial public offering (IPO) of 80,000 unit’s shares. The offer closed on Ashad 4, 2072.

The microfinance has set aside, 2400 unit shares for its employees. And 4,000 unit shares will be allotted on a pro rata basis to the existing 6 mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, and Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, and Siddhartha Investment Growth Scheme- 1.

The microfinance paid-up capital will rise to Rs 2 crore from the existing Rs 1.20 crore following the IPO. It earned a net profit of Rs 25.66 lakh as of 3rd quarter of the fiscal year 2071/72 and has Rs 59.51 lakh in its reserve fund.
 

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