Mero Microfinance allotment of  6.12 lakh unit shares on Baisakh 29; Big investors likely to get 0.41% whereas lottery below Rs  2.3 lakh of the total investment

Mero Microfinance Bittiya Sanstha Limited  had floated its Initial Public Offering (IPO) worth Rs 6.12 crore (6.12 lakh units shares) from Falgun 27, 2072 to till Chaitra 1, 2072. Mr. Ram HariDahal, CEO of Mero Microfinance Bittya Sanstha limited said, “The allotment of the IPO will take place on Baisakh 29, 2073.” The premise and time of the allotment are yet to be finalized added Mr. Dahal. As per the preliminary data, the big investors are likely to be allotted 0.41% and lottery  will be below Rs 2.3 lakh of the total investment.  However, percentage may change with the final output of the allotment data. Global IME Capital Limited has been appointed as the issue manager for the IPO. The IPO was oversubscribed by 194.28 times till last day. Around 1 lakhs 67 thousand 9 hundred 15 application forms were received till last day of the IPO. The microfinance company has set aside 24,480 unit shares for its employees and 30,600 unit shares for the existing six mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1,  Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, and Siddhartha Investment Growth Scheme- 1. The microfinance company plans to raise Rs 6.12 crore through the offer. After the IPO, the promoter-public ratio of the company will be 69.40 % to 30. 60%. The microfinance company has earned net profit of Rs 5.53 crore in the third quarter of current fiscal year 2072/73.