Forward Community Microfinance to refund IPO non-allottees from today; 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 today (Falgun 26, 2073). As per the notice published by the microfinance company today, applicants who have mentioned the bank accounts of Nabil Bank, Machhapuchchhre Bank and NMB Bank will have their excess money transferred to their respective accounts directly. 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 general public. Staffs were allotted 30,000 units shares and the mutual funds were allotted 30,000 units shares.