Mirmire Microfinance Development Bank to float IPO from Chaitra 4; 55,800 units for general public

ShareSansar, March 10:

As part of its Initial Public Offering, Mirmire Microfinance Development Bank Limited will be floating a total 60,000 units of ordinary shares at face value of Rs 100. The company has allocated 1,200 units shares for the employees, 3000 for mutual funds and 55,800 units for general public.

Investors are required to invest in a minimum of 50 units and they can apply for a maximum of 1,000 units.

The issue will be managed by Growmore Merchant Banker Limited and the offer will close on Chaitra 9. The maximum closing date has been set for Chaitra 18.

Mirmire’s paid-up capital will rise to Rs 2 crore from the existing Rs 1.40 crore after the IPO.

The microfinance development bank had earned a profit of Rs 21.64 lakhs as per the financial report for the year 070/071.The company’s EPS stands at Rs 15.45 and net worth per share at Rs 85.95.