Clean Village IPO oversubscribed by 111.7 times; collection crosses Rs 1.22 arba

ShareSansar June 22:

The Initial Public Offering (IPO) of Clean Village Microfinance Bittiya Sanstha had floated 1, 20,000 unit shares on Ashad 3.

According to the official of NMB capital limited, the offer has been oversubscribed by approx 111.7 times.  The total collection of IPO is approximately Rs 1 arba 22 crore. Total 37,716 forms were collected till now, although the final figure has yet to be compiled.

NMB Capital Limited has been appointed the issue manager for the IPO. The maximum closing date for the IPO has been set for Asar 17.

Investors are required to invest a minimum of 50 units of share and they can apply for up to 1,000 unit of share.

The microfinance has set aside, 4800 unit shares for its employees and 6000 unit shares for the mutual fund. Out of which 1200 unit shares for Nabil balance fund-1, 1200 unit shares for NMB Sulav Investment Fund – 1, 1200 unit shares for  NIBL Sambriddhi Fund – 1, 1200 unit shares for Laxmi Value Fund -1, 800 unit shares for Siddhartha Equity Oriented Scheme 800, and 400 unit shares for Siddhartha Investment Growth Scheme.

The microfinance paid-up capital will rise to Rs 4 crore from the existing Rs 2.80 crore following the IPO.

After the IPO, the promoter-public ratio in the company will be 70% to 30%.

Clean village earned a net profit of Rs 37. 79 lakh in 2nd quarter of the fiscal year 2071/72.  Its net worth per share stands at Rs 95.49.