Mount Makalu to issue IPO worth Rs. 60 lakhs on April 11, Expected to get good response

ShareSansar, April 3:

Terathum based Mount Makalu Development Bank Limited is going to issue its Initial Public Offering (IPO) worth Rs 60 lakhs on April 11, 2014.

The IPO will close on April 16 at the earliest if oversubscribed otherwise it will continue till April 25.

Growmore Merchant Banker Limited is managing its IPO. This IPO is also expected to attract many inventors due to its sound financial statement.

Bank net worth per share during last fiscal year is Rs.140 and earning per share is Rs.13.43 which indicates sound financial statement.

After the issuance of IPO, banks paid up capital will be Rs.2 crore. Credit rating for this IPO is not necessary due to its capital which is less than 2 crore.