Kisan Microfinance IPO allotment today at 5pm; offer was oversubscribed by 158 times

ShareSansar, July 27:

The allotment of shares under the Initial Public Offering (IPO) of  Kisan Microfinance Bittiya Sanstha Limited will be made public today(Shrawan 11).

Mr. Kamal Khatri, assistant manager of Civil Capital Market Ltd, said that all the details regarding the IPO allotment will be made public today at 5 pm at the premises of Civil Capital Market Limited, Kathmandu Plaza, Kamaladi, Kathmandu.

Accham district based --Kisan Microfinance Bittiya Sanstha had floated its initial public offering (IPO) of 80,000 unit’s shares. It was oversubscribed by 158 times.

Investors were required to invest in a minimum of 50 units of shares and can apply for maximum of 1,000 units of shares.

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.