ILFCO Microfinance IPO collection exceeds 2.30 arba; oversubscribed above 57 times

ShareSansar April 5:

ILFCO Microfinance Bittiya Sanstha Limited has opened its Initial Public Offering of 400,000 unit shares from Chaitra 17 and the last day the offer was on Chaitra 20.  

Kamal Khatri, assistant manager of Civil Capital Market Ltd, said the total collection of the IPO is 2.30 Arba.

Civil Capital Market Limited is the issue manager for the IPO.  Investors were required to invest in a minimum of 20 units and they can apply for a maximum of 1,000 units.

The company had set aside 20,000 kittas for mutual fund and 3,80,000 kittas--which includes 8,000 shares that had been earmarked for its employees for the general public.  

The microfinance company plans to raise Rs 40 million through the offer. After the IPO, the paid up capital of the company, which had posted a net profit of Rs 27,15,000 for the fiscal year 2070/2071, will reach Rs 10 crore from the current Rs 6 crore.
 
The promoter-public ratio in the company will be 60% to 40%. The net worth per share stands at Rs 106.10.