Mahuli Samudayik IPO allotment tomorrow; offer oversubscribed by 137.36 times

The allotment of shares under the Initial Public Offering (IPO) of Mahuli Samudayik Laghubitta Bittiya Sanstha Limited will be made public tomorrow (Jestha 20, 2074). As per an official of Sunrise Capital Limited, issue manager for Mahuli Samudayik IPO, “All the details regarding IPO allotment will be made public tomorrow. The time and venue of the allotment is yet to be finalized.” Mahuli Samudayik Laghubitta had issued its Initial Public Offering (IPO) of 1,20,000 unit shares worth Rs 1.20 crore from Baisakh 7, 2074 till Baisakh 11, 2074. The issue was oversubscribed by more than 137.36 times till last day. It has collected  1 arba 50 crore till last day from regular as well as ASBA applications and around 70 thousand application forms were received. Interested investors were required to apply a minimum of 50 units of share and they can apply for up to 600 units of share. The microfinance company had set aside 4,800 unit shares or 4% for its employees and 6,000 unit shares for the existing ten mutual fund companies. The mutual fund schemes are Nabil Balanced Fund-1, Nabil Equity Fund, NMB Sulav Investment Fund – 1, NMB Hybrid Fund L-1, NIBL Sambriddhi Fund – 1, NIBL Pragati Fund, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunat Scheme – 1. The company had set aside a total of 1,09,200 unit shares to the general public. The microfinance company plans to raise Rs 1.20 crore through the offer. After the IPO, the paid up will reach Rs 4 crore from the current Rs 2.80 crore. Its authorized capital stands at Rs 15 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%. Mahuli Samudayic was established on June, 1994. It basically focused on community development services at the time of its inception. It started microfinance program from September, 2000 and got upgraded to Class “D” financial institution in the FY 2070/71. The microfinance company has its working area in 10 districts with 28 branches.