Mahila IPO collection crosses Rs 1.25 arba, oversubscribed 40 times in 3 days; Offer closed today  

ShareSansar June 26:

Initial Public Offering (IPO) of Mahila Sahayatra Microfinance Bitiya Sanstha Limited is coming to an end today. The IPO is oversubscribed by more than 39.87 times in 3 days.

As per the official of Nabil Investment Banking, the IPO has collected Rs 1 arba 25 crore till third day, resulting in an oversubscription by around 39.87 times already. More than 30,000 forms were received for the same.

The company had floated a total of 3,30,000 kitta shares as part of its IPO on Ashad 8, 2072.

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.

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

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.