Kisan Microfinance IPO from Ashad 1; 80,000 units for general public

ShareSansar, June 9:

Accham district based --Kisan Microfinance Bittiya Sanstha Limited has published a notice announcing its initial public offering (IPO) of 80,000 unit’s shares. The company has permission to expand its business within 10 districts.

The IPO sale will be open from Ashad 1. As per the notice, the offer will close on Ashad 4, whereas the maximum closing date for the IPO has been set for Asar 15.

Civil Capital Market Limited has been appointed the issue manager for the IPO.

Interested people must apply for a minimum of 50 unit of shares and they can apply for up to 1,000 unit of shares.

The microfinance has set aside, 2400 unit shares for its employees. And 4,000 unit shares will be allotted on a pro rata basis to the existing 6 mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, and Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, and Siddhartha Investment Growth Scheme- 1.

The microfinance paid-up capital will rise to Rs 2 crore from the existing Rs 1.20 crore following the IPO. It earned a net profit of Rs 25.66 lakh as of 3rd quarter of the fiscal year 2071/72 and has Rs 59.51 lakh in its reserve fund.

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