Mero Microfinance to refund IPO non-allottees from Jestha 3

Mero Microfinance Bittiya Sanstha Limited will be refunding excess money collected from investors from Jestha 3, 2073 i.e. coming Monday onward. It had floated 6.12 lakh unit shares as part of its IPO shares. SEBON rule demands refund of excess money within 5 days of the IPO allotment day. The non-allotted investors have to visit their respective collection centers with receipt to collect their refund money through account payee cheque. Ram Hari Dahal, CEO of Mero Microfinance Bittiya Sanstha said, “Most probably we will refund the excess money to the investors from Monday.” Global IME Capital Limited has been appointed as the issue manager for the IPO. Mero Microfinance IPO had received total 1, 81,562 applicants. Of the total applicants only 40,645 investors got the shares including 7 mutual fund and 155 staffs. Allotment for investors who had applied from Rs 5000 or 50 units to Rs 2,30,000 or 2300 unit shares was decided through  lottery and remaining investors who had applied for Rs 2, 40,000 or 2400 units to Rs 10,00,000 and 10,000 units were allotted 0.41% on pro-rata basis 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.