National Microfinance IPO collected Rs 11.30 arba from 1.64 lakh applicants till last day; Oversubscribed by more than 400 times

National Microfinance Bittiya Sanstha Limited 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 has been oversubscribed by more than 400 times till last day. Mr.Badri Pyakurel, Merchant Banking head of NIBL Capital Markets Limited, The total collection of the IPO is approximately Rs  11  arba 30 crore till last day. Around 1 lakh 64 thousand application forms were received till date.”

Interested investors were required to apply for a minimum of 50 units of share and they can apply for up to 10,000 units of share. The microfinance company has set aside 12,000 unit shares for its employees and 15,000 unit shares for the existing seven mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside 2, 73,000 unit share to the general public. NIBL Capital Markets Limited has been appointed as the issue manager for the IPO. The microfinance company plans to raise Rs 3 crore through the offer. 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%.