National Microfinance postponed 3 lakh units IPO allotment till coming Sunday

National Microfinance Company Limited has extended its IPO allotment date till Sunday i.e. 9^th Aswin, 2073. Earlier the microfinance company’s allotment was supposed to be held today (Aswhin 6, 2073). As per an official of NIBL Capital Markets Limited, ’Due to some technical problems from the side of CDSC, the allotment has been postponed.’ Whereas an official of CDS and Clearing Limited said, ‘The Company has not submitted its required documents till date.’ The microfinance 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 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%.