Mero Microfinance to float 6.12 lakhs kitta IPO shares from today; Investors can apply up to 10, 000 kitta
Thu, Mar 10, 2016 3:00 AM on Latest, IPO/FPO News, Featured, Stock Market,
Mero Microfinance Bittiya Sanstha Limited is floating its Initial Public Offering (IPO) of 6,12,000 unit shares worth Rs 6.12 crore from today (Falgun 27, 2072).
The offer will close on Chaitra 1, 2072 at the earliest. The maximum closing date for the offer is Chaitra 11, 2072.
Interested investors must apply for a minimum of 50 units of share and they can apply for up to 10,000 units of share.
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.
Global IME Capital Limited has been appointed as the issue manager for the IPO.
The microfinance company plans to raise Rs 6.12 crore through the offer. After the IPO, the paid up will reach Rs 20 crore from the current Rs 13.88 crore. Its authorized capital stand at Rs 40 crore.
After the IPO, the promoter-public ratio of the company will be 69.40 % to 30. 60%.
MMFB has earned a net profit of Rs. 2.97 crore in the second quarter of the fiscal year 2072/73.Its EPS remains at Rs 42.83 and net worth per share at Rs 152.04.
ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed IPO amounting to NPR 61.20 million of Mero Microfinance Bittiya Sanstha Limited.
IPO of Mero Microfinance: How much to invest? Rs 5,000 or Rs 50 thousands or Rs 10 lakhs?
