IPO of Mahila gets overwhelming response; Oversubscribed by 10 times on first day

ShareSansar June 24:

Mahila Sahayatra Microfinance Bitiya Sanstha Limited has started floating its initial public offering (IPO) of 3, 30,000 units share from Ashad 8 (Yesterday). Today is the second day of IPO. The IPO is oversubscribed by approx 10 times in very first day.

As per the official of Nabil Investment Banking, the total collection of the first day of issue was approximately Rs 32 crore.

The offer will close on Ashad 11, whereas the maximum closing date for the IPO has been set for Ashad 22.

Nabil Investment Banking Limited has been appointed the issue manager for the IPO.

Interested people must apply for a minimum of 50 units of share and they can apply for up to 2,000 units of share at the face value of Rs 100.

The microfinance has set aside, 16,500 unit shares for the mutual fund companies. Out of which 2750 unit shares is for Nabil balance fund-1, 917 units share for Siddhartha Investment Growth Scheme, 1,833 units share for Siddhartha Equity Oriented Scheme 2,750 unit shares for NMB Sulav Investment Fund – 1, 2750 unit shares for NIBL Sambriddhi Fund, 2750 units share for the CIT based schemes.

The microfinance paid-up capital will rise to Rs 11 crore from the existing Rs 7.70 crore following the IPO.

It has posted a net profit of Rs 57.95 Lakhs in the 3rd quarter of the fiscal year 2071/72.  It’s projected net worth per share of the Fiscal Year 2071/72 stands at Rs 106.24 and EPS (annualized) at Rs 5.01.

After the IPO, the promoter-public ratio in the company will be 70% to 30%.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) amounting NPR 33million of Mahila Sahayatra Microfinance Bittiya Sanstha Limited.

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