Forward Microfinance IPO collection update; Rs 6.20 arba from 1.30 lakh applications

Forward Community Microfinance Bittiya Sanstha Limited had floated 6,00,000 units IPO shares from Magh 9 to Magh 13, 2073. An official of Nabil Investment Banking said, ‘Till date the IPO has collected Rs 6.20 arba through 1.30 lakh applications. The data includes collection from the ASBA collection centers. However, this data is not final.’ The IPO was oversubscribed  by almost 115 times. The paid up capital of the microfinance company stands at Rs 14 crore. After the IPO, its paid up will reach Rs 20 crore. Forward Community Microfinance Bittiya Sanstha Ltd. has earned net profit of Rs 14.68 crore till the end of second quarter of the FY 2073/74. It has a reserve of Rs 49.58 crore with net worth of Rs 454.21.