Mahila IPO oversubscribed by 81.66 times; More than 54,000 applicants deposited 2.56 arba

ShareSansar, June 28:

Mahila Sahayatra Microfinance Bitiya Sanstha Limited had opened its Initial Public Offering of 3, 30,000 kitta shares from Ashad 8 and the last day of the offer was on Ashad 11.  

As per the official of Nabil Investment Banking, the IPO collection has reached Rs 2 arba 56 crore which is based on preliminary report. More than 54 thousand forms were received.

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.