Mahuli Samudayik Laghubitta IPO collects Rs 7.15 crore on first day; IPO oversubscribed by more than 6 times from regular applications only
- ShareSansar, April 21, 2017 on Featured , IPO News , Latest , Stock Market
Mahuli Samudayik Laghubitta Bittiya Sanstha Limited has been issuing its Initial Public Offering (IPO) of 1,20,000 unit shares worth Rs 1.20 crore from Baisakh 7, 2074. Today is the second day of the IPO. The IPO is oversubscribed by more than 6.54 times on first day.
As per an official of NCM Merchant Banking Limited, the issue manager for the IPO, the issue has collected around Rs 7 crore 15 on the first day from regular applications only. Around 3252 application forms were received. Collections from ASBA applications have not been yet compiled.
The offer will close on Baisakh 11, 2074 at the earliest. The maximum closing date for the offer is Baisakh 21, 2074.
Interested investors must apply for a minimum of 50 units of share and they can apply for up to 600 units of share.
The microfinance company has set aside 4,800 unit shares or 4% for its employees and 6,000 unit shares for the existing ten mutual fund companies. The mutual fund schemes are Nabil Balanced Fund-1, Nabil Equity Fund, NMB Sulav Investment Fund – 1, NMB Hybrid Fund L-1, NIBL Sambriddhi Fund – 1, NIBL Pragati Fund, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunat Scheme – 1. The company has set aside a total of 1,09,200 unit shares to the general public.
NCM Merchant Banking Limited is the issue manager for the IPO.
The microfinance company plans to raise Rs 1.20 crore through the offer. After the IPO, the paid up will reach Rs 4 crore from the current Rs 2.80 crore. Its authorized capital stands at Rs 15 crore.
After the IPO, the promoter-public ratio of the company will be 70 % to 30%.
Mahuli Samudayic was established on June, 1994. It basically focused on community development services at the time of its inception. It started microfinance program from September, 2000 and got upgraded to Class “D” financial institution in the FY 2070/71. The microfinance company has its working area in 10 districts with 28 branches.
If the applicants are applying through ASBA process, Don’t Forget to take ASBA number from Bank for IPO Result.