Mithila to distribute IPO allotment slips, refund non-allottees from Feb 23

ShareSansar, February 17:

A day after the allotment of its Initial Public Offering (IPO), Mithila Laghubitta Bikas Bank Limited has stated that it would distribute the allotment slips as well as refund the money to non-allottees from February 23.

The IPO was flatly allotted at 1.26 percent to both the group of investors yesterday, and those who applied up to Rs 75,000 have fallen under lottery. The allotment took place at the office of the issue manager Civil Capital Limited at 4:00 PM yesterday.

The IPO of Mithila that closed on January 8 was oversubscribed by 76.86 times as the issuance of 70, 725 units of ordinary shares through the IPO that begun on January 5 had drawn Rs 54 crore, 36 lakh and 30 thousand.

The SEBON had approved Mithila’s IPO issuance on December 11.

As 1,415 unit shares were set aside for the staff of the microfinance and another 5 percent of the shares were earmarked for the mutual funds, the total ordinary shares floated to the public stood at 65,774.

Similarly Civil Capital, which is also the issue manager of the IPO of Century Commercial Bank, stated the Century’s IPO will also take place later this month, most probably on February March 3.