Womi Microfinance IPO allotment concludes through lottery to all

ShareSansar, August 19:

Dhading based--Womi Microfinance Bittiya Sanstha Limited has concluded its IPO allotment today at 9:00 AM at the premises of its issue manager NMB Capital Limited at Babar-Mahal, Kathmandu.

Womi Microfinance had floated 1, 47,000 units share as part of its initial public offering (IPO). The offer closed on Ashad 25, 2072.

Of the total 135,240 shares set aside for the general public; 40 % or 54,096 kitta shares were put aside for retail investors and 60 % or 81,144 shares under “other investor” category.  Retail investors applied for a total of 65, 35,060 kitta shares and those in the others category demanded 1, 10, 67,500 kittas.

Since the allotment took place through lottery, all allottee were eligible for a minimum of 10 unit 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 1,000 to maximum Rs 1,00,000 amount investors were decided through lottery.

Of the total 55,700 applicants only 13,598 investors got the shares.  

There were only 77 invalid applicants. Altogether 68 staffs were allotted 4, 410 units and six mutual fund schemes were given 7,350 unit shares.

The microfinance has set aside 4,410 unit shares for its employees and 7,350 unit shares for the existing 6 mutual fund companies on pro rata basis. 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, and Siddhartha Investment Growth Scheme- 1.

The microfinance company plans to raise Rs 1.47 crore through the offer. After the IPO, the paid up will reach Rs 3 crore from the current Rs 1.53 crore.

After the IPO, the promoter-public ratio in the company will be 51% to 49%.