RMDC IPO collection reaches Rs 3 arba 13 crore

ShareSansar, July 23:

Rural and Microfinance Development Centre’s IPO has been oversubscribed 12 times.

Though RMDC had issued 15,60,000 shares for generating Rs 28 crore, the company ended up collecting Rs 3 arba 13 crore through over 27,000 applications.

The company had issued 1,528,800 equity shares of face value Rs 100 each with a premium of Rs 80 per share for the general public and 31,200 equity shares of Rs 100 each for its employees, which is 2% of the overall issue.

As per a report, RMDC has earned an operating profit of Rs 22 crore for the FY 2069/70.

RMDC has been in operation for 14 years and through its partner institutions have been providing loans to rural households.