Reliable Microfinance oversubscribed by 25 times in 2 days: offer closes tomorrow

ShareSansar, July 9:

Reliable Microfinance Bittiya Sanstha Limited has started floating its Initial Public Offering (IPO) from Ashad 22 . Today is the third day of IPO. The IPO is oversubscribed by 25 times on second day.

Assistant Manager of Civil Capital Market, Mr. Kamal Khatri said they got an overwhelming response from the public on the second day. The total collection till the second day reached 35 crore 73 lakh, he added.

The offer will close on Ashad 25 (tomorrow). The maximum closing date for the offer is Shrawan 5, 2072.

Out of the total 1,50,000 unit shares, the microfinance has 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.

Interested people must apply for a minimum of 50 units of share and they can apply for up to 1,000 unit of share.

Civil Capital Market Limited is assigned as the issue manager for the IPO.

The 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%.

It earned a net profit of Rs 41.07 lakh in its 2nd quarter of the fiscal year 2071/72 and its net worth per share stands at Rs 97.67.

Collection centers:

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