IPO allotment of Mirmire Microfinance within a few days

ShareSansar, May 5:

The allotment of shares under the Initial Public Offering (IPO) of Mirmire Microfinance Development Bank Limited will be made public within a few days.

SEBON rules require the allotments to take place within 40 days after the IPOs close. Although Mirmire’s IPO ended on Chaitra 9 and the IPO is already past its allotment deadline, the authorities allowed a few more days to the company in view of the massive earthquake that struck the country on April 25.

An official with the Growmore Merchant Banker, the issue manager for the IPO, said that all the details regarding the IPO allotment will be made public within a few days at the premises of Growmore Merchant Banker Limited, Durbarmarg, Kathmandu.

Mirmire Microfinance IPO had received more than 70,000 applications and was oversubscribed by 220 times.

Mirmire Microfinance had floated 60,000 kitta shares as part of its maiden stock offer. The company had allocated 1,200 units shares for the employees, 3000 for mutual funds and 55,800 units for general public.