Kisan Microfinance IPO update: Total collection Rs 1.18 arba, Oversubscribed by 157.60 times

ShareSansar, June 21:

Kisan Microfinance Bittiya Sanstha Limited initial public offering (IPO) has been oversubscribed more than 157.60  times.

Mr. Kamal Khatri, assistant manager of Civil Capital Market Ltd, said the total collection of the Kisan IPO stood Rs 1 arab 18 crore. Total 36,500 application forms were received in four days of the issue.

Accham district based --Kisan Microfinance Bittiya Sanstha has floated its initial public offering (IPO) of 80,000 unit’s shares.

Civil Capital Market Limited has been appointed the issue manager for the IPO. Investors were required to invest in a minimum of 50 units of shares and can apply for maximum of 1,000 units 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.