National Microfinance allotment of 3 lakh unit IPO shares likely to be on Ashwin 6

National Microfinance Bittiya Sanstha Limited had floated its Initial Public Offering (IPO) of 3, 00,000 units worth Rs 3 crore from Shrawan 16, 2073 to till Shrawan 19, 2073. Badri Pyakurel , Merchant Banking Head of NIBL Capital Markets Limited said, “The allotment of the IPO will most probably take place on Ashwin 6, 2073.” The premise and time of the allotment are yet to be finalized added Mr. Pyakurel. NIBL Capital Markets Limited is the issue manager for the IPO. The IPO was oversubscribed by more than 400 times till the last day. Around 1 lakh 64 thousand application forms were received. The microfinance company has set aside 12,000 unit shares for its employees and 15,000 unit shares for the existing seven mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside 2, 73,000 unit share to the general public. The microfinance company plans to raise Rs 3 crore through the offer. After the IPO, the paid up will reach Rs 10 crore from the current Rs 7 crore. It’s authorized capital stand at Rs 50 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%.