FINAL COLLECTION: Reliable and Womi Microfinance IPO oversubscribed by 109 and 113 times respectively

ShareSansar, July 13

Reliable Microfinance Bittiya Sanstha Limited and  Womi Microfinance Bittiya Sanstha Limited had floated  its Initial Public Offering (IPO) of 1,50,000 unit shares and 1,47,000 unit shares respectively  from Ashad 22.

Reliable Microfinance was oversubscribed by 109 times whereas Womi Microfinance IPO was oversubscribed by 113 times till last day.

Assistant Manager of Civil Capital Market, Mr. Kamal Khatri said the issue has collected total of 1 arba 55 crore by approximately 49,000 applicants.

According to the official of NMB Capital, Womi Microfinance IPO has collected  Rs 1 arba 56 crore 75 lakh by approximately 84,000 applicants till last day. The final data is yet to be compiled.

Out of the total 1,50,000 unit shares, Reliable microfinance had set aside 7,500 unit shares for the mutual fund schemes and 1,42,500 for general public which also includes 3,000 unit shares for its employees. Civil Capital Market Limited is assigned as the issue manager for the IPO.

Reliable Microfinance Company plans to raise Rs 15 million through the offer. After the IPO, the paid up will reach Rs 50 million from the current Rs 35 million. After the issue, the promoter-public ratio in the company will be 70% to 30%.

Womi microfinance had 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 issue manager for the IPO is NMB Capital Limited.

Womi 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%.