Kalinchowk Development Bank floats its IPO worth Rs 4.9 crore

ShareSansar, August 6:

Kalinchowk Development Bank Limited has floated its Initial Public Offering (IPO) worth Rs 4.9 crore from today.

The IPO will close on August 12 at the earliest if oversubscribed otherwise it will continue till August 20.

Of the total issued 4.9 lakh units of ordinary share, 9,700 units have been allocated for the staff and 24,500 units for the mutual fund.

Growmore Merchant Banker Limited is managing the IPO.    

The development bank’s net worth per share during the third quarter of the last fiscal year was Rs 103.32 and the earning per share was Rs 3.65.

Likewise the net profit of the development bank in the third quarter of the fiscal year 2070/71 was Rs 18.62 lakh, the reserve was Rs 36.20 lakh and the paid-up capital was Rs 5.10 crore.   

The development bank is “B” class bank based in Dolakha district and is functional in three districts that are Dolakha, Sinduli and Ramechap.