Forward Community Microfinance to refund IPO non-allottees from Falgun 26; applicants having A/C in NMB, Machhapuchchhre & Nabil Bank to get refund in respective A/C

Forward Community Microfinance Bittiya Sanstha Limited will be refunding excess money collected from investors from Falgun 26, 2073. It had floated 6 lakh units unit shares worth Rs 6 crore as part of its Initial Public Offering (IPO) from Magh 9 to Magh 12, 2073. According to an official of Nabil Investment Banking limited, the issue manager for the IPO of Forward Community Microfinance, “Applicants who have mentioned bank accounts of NMB Bank, Nabil Bank and Machhapuchchhre Bank will have their excess money transferred directly in their respective accounts.” Other applicants have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Letter of authorization along with photocopy of identity card of authorized person must be presented if the investors cannot collect their money themselves. Forward Community Microfinance had concluded allotment of 6 lakh units IPO shares on Friday (Falgun 20, 2073). Allotment for investors who had applied from Rs 5,000 (or 50 units) to Rs 103,000 (or 1,030 units) were decided through lottery and those who got the shares through lottery were allotted 10 shares each. Remaining investors who had applied from Rs 1,04,000 (1,040 units) to Rs 3,00,000 (or 3,000 units) were allotted 0.89% on pro-rata basis. Out of the total 124,725 valid applicants, only 38,008 got the shares. A total of 5,40,000 unit shares were allotted to the applicants. Staffs were allotted 30,000 units shares and the mutual funds were allotted 30,000 units shares. Check Lottery Result of Forward Community Microfinance IPO