Reliable and Womi Microfinance IPO oversubscribed by 47.80 and 52.08 times respectively: offer closes today

ShareSansar, July 10

Reliable Microfinance Bittiya Sanstha Limited and  Womi Microfinance Bittiya Sanstha Limited have floated  its Initial Public Offering (IPO) of 1,50,000 unit shares and 1,47,000 unit shares respectively  from Ashad 22.

Reliable Microfinance was oversubscribed by 47.80 times whereas Womi Microfinance IPO was oversubscribed by 52.08 times till third day.

Assistant Manager of Civil Capital Market, Mr. Kamal Khatri said the total collection of Reliable Microfinance IPO reached 68 crore 12  lakh till third day (yesterday).

According to the official of NMB Capital, Womi Microfinance IPO has collected Rs 72 crore 74 lakh 13 thousand till third day.

Out of the total 1,50,000 unit shares, Reliable microfinance had set aside 7,500 unit shares for the mutual fund schemes and 1,42,500 for general public which also includes 3,000 unit shares for its employees. Civil Capital Market Limited is assigned as the issue manager for the IPO.

Reliable  microfinance company plans to raise Rs 15 million through the offer. After the IPO, the paid up will reach Rs 50 million from the current Rs 35 million. After the issue, the promoter-public ratio in the company will be 70% to 30%.

Womi microfinance had set aside 4,410 unit shares for its employees and 7,350 unit shares for the existing 6 mutual fund companies on  pro rata basis. 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, and Siddhartha Investment Growth Scheme- 1. The issue manager for the IPO is NMB Capital Limited.

Womi microfinance company plans to raise Rs 1.47 crore through the offer. After the IPO, the paid up will reach Rs 3 crore from the current Rs 1.53 crore. After the IPO, the promoter-public ratio in the company will be 51% to 49%.