ILFCOM IPO allotment concludes; Below Rs 62000 thru lottery

 
ShareSansar May 28:

ILFCO Microfinance Bittiya Sanstha Limited has concluded its IPO allotment today at the premises of issue manager Civil Capital Market Limited at Kamaladi, Kathmandu. ShareSansar will publish the full IPO result on its website soon.

Allotment for investors who had applied for shares worth Rs 61,000 or below was decided through lottery. Likewise, investors who applied for shares more than Rs 61,000 were allotted 1.5% of the money they had invested.

ILFCOM opened its Initial Public Offering of 400,000 unit shares from Chait 17. The offer closed on Chait 20. ILFCO Microfinance IPO was oversubscribed above 57 times.

Of the total 400,000shares set aside for public, 40%, or 1,48,800 shares, were put aside for retail investors and 60%, or 223,200 shares, under “other investor” category. Retail investors applied for a total of 14,315,510 unit shares and those in the others category demanded 10,368,910 kittas.

The shares set aside for retail investors was oversubscribed 96.21 times and those set aside under other category were oversubscribed 46.46 times.

Of the total 400,000 shares,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.