Samata IPO oversubscribed by 130 times till third day; issue closing today
- ShareSansar, January 6, 2017 on Featured , IPO News , Latest , Stock Market
Samata Microfinance has been issuing 94,800 unit shares worth Rs 94.80 lakh as part of its Initial Public Offering (IPO) from Poush 19, 2073 at a face value of Rs 100. Today is the last day of the IPO. The IPO has been oversubscribed by over 130 times till the third day (yesterday).
As per an official of NIBL Capital Markets Limited “The total collection of the IPO is approximately Rs 47.42 crores on the second day. Around 23,200 application forms were received.”
The IPO has collected over Rs.1.14 arba till yesterday from around 54,000 applicants till yesterday. Today is the last day for the issue.
Interested investors must apply for a minimum of 50 units of share and they can apply for up to 500 units of share. Since 500 units share is the maximum number of units applicable for the IPO, there will be no large investors as such.
The microfinance company has set aside 1,896 unit shares for its employees and 4,740 unit shares for the existing 10 mutual fund companies: 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, Global IME Sammunati Fund, NIBL Pragati Fund, NMB Hybrid FundL-1and Nabil Equity Fund.
NIBL Capital Markets Limited is the issue manager for IPO.
The microfinance company plans to raise Rs 94.80 lakh through the offer. After the IPO, the paid up will reach Rs 3.16 crore from the current Rs 2.21 crore. Its authorized capital standS at Rs. 5 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%.
Samata Microfinance is located at Simara of Bara district of Nepal. The microfinance company’s objective is to boost agricultural production to generate income and employment among the poor by delivering poor friendly and sustainable micro-finance services.