Last day to grab IPO shares of Reliable Microfinace; collection may oversubscribed by 100 times

ShareSansar, July 10:

Reliable Microfinance Bittiya Sanstha IPO is coming to an end today. Today is the last day of IPO.

Assistant Manager of Civil Capital Market Limited, Mr. Kamal Khatri said the IPO has already collected Rs 35 crore 73 lakh till second day, resulting in an oversubscription by around 25 times.

The collection is expected to soar even more by the end of Friday (today), the last day for filing application for the IPO. The microfinance had floated a total of 1,50,000 kitta shares as part of its IPO on Ashad 22.

The offer will close today (Ashad 25). The maximum closing date for the offer is Shrawan 5, 2072.

Out of the total 1,50,000 unit shares, the microfinance has set aside 7,500 unit shares for the mutual fund schemes and 1,42,500 for general public which also includes 3,000 unit shares for its employees.

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

Civil Capital Market Limited is assigned as the issue manager for the IPO.

The microfinance company plans to raise Rs 15 million through the offer. After the IPO, the paid up will reach Rs 50 million from the current Rs 35 million. After the issue, the promoter-public ratio in the company will be 70% to 30%.

It earned a net profit of Rs 41.07 lakh in its 2nd quarter of the fiscal year 2071/72 and its net worth per share stands at Rs 97.67.

Collection Centers: