National Microfinance IPO allotment concludes today; upto Rs 4,80,000 under lottery; above that 0.20% flat to all investors

National Microfinance Bittiya Sanstha Limited has concluded its IPO allotment today at the premises of issue manager NIBL Capital Markets Limited located at Lazimpat, Kathmandu at 9:30 AM. Allotment for investors who had applied from Rs 5,000 or 50 units to Rs 4, 80,000 or 4,800 units shares was decided through lottery and investors who had applied for Rs 4,81,000 or 4,810 units to Rs 10,00,000 or 10,000 units get 0.20% flat. Of the total 2, 73,000 unit shares set aside for general public.40% or 109,200 units shares, were put aside for retail investors and 60% or 163,000 units shares, under “other investor” category. Retail investors applied for a total of 23,507,610 unit shares and those in the others category demanded 82,863,930 units shares. The shares set aside for retail investors were oversubscribed by 215.27 times and those set aside under other category were oversubscribed by 505.88 times. Of the total 157,425 applicants only 24,040 investors got the shares including 7 mutual fund and 123 staffs. There were no invalid applicants. National Microfinance had issued 3, 00,000 unit shares worth Rs 3 crore as part of its initial public offering (IPO) from Shrawan 16, 2073 till Shrawan 19, 2073 at face value of Rs 100. The IPO was oversubscribed by more than 400 times till last day. After the IPO, the paid up will reach Rs 10 crore from the current Rs 7 crore. It’s authorized capital stand at Rs 50 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%.