Clean Village IPO oversubscribed by more than 34.9 times till second day; IPO closing tomorrow

ShareSansar June 21:

Clean Village Microfinance Bittiya Sanstha initial public offering (IPO) has been oversubscribed more than 34.9 times on the second day.

According to a NMB Capital official, the total collection till the second day of the IPO has reached more than Rs 41 crore 88 Lakhs. 13,729 application forms have been collected in two days.

Clean Village Microfinance has been floating its initial public offering (IPO) of 1,20,000 unit’s shares at the face value of Rs 100 to the general public.

The offer will close on Ashad 7 (i.e. tomorrow), whereas the maximum closing date for the IPO has been set for Asar 17.

NMB Capital Market Limited has been appointed the issue manager for the IPO.

Interested people must apply for 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%.

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

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CLick here for IPO Analysis of Clean Village Microfinance Bittiya Sanstha Ltd. (3rd to 7th Asad)