Mirmire Microfinance IPO allotment concludes through lottery system

ShareSansar, May 11:  

Mirmire Microfinance Development Bank Limited concluded its IPO allotment today at the premises of issue manager Growmore Merchant Banker Limited at Durbarmarg, Kathmandu. ShareSansar will publish the full IPO result on its website soon.

Given the high number of applicants, allocation on pro rata basis was not possible so the allotment was made through lottery system. Since the allotment took place through lottery, all investors were eligible for a minimum of 10 shares.

Of the total 55,800 shares set aside for public, 40%, or 22,320 shares, were put aside for retail investors and 60%, or 33480 shares, under “other investor” category.   

Retail investors applied for a total of 84,54,340 unit shares and those in the others category demanded 62,11,110 kittas.

The shares set aside for retail investors was oversubscribed 378.78 times and those set aside under other category were oversubscribed 185.52 times.