Share market abuzz with IPO galore

ShareSansar, June 3

Even before the buzz created by the launch of IPO of Mega Bank subsides, share market is again stirring with news of fresh Initial Public Offerings (IPO) from three financial companies.

Among the three finance companies, Namaste Bittiya Sanstha Limited is launching its shares on Friday, while Mission Development Bank and Gaumukhi Bikas Bank Limited are planning to float their shares on June 9 and June 12 respectively.

Out of 1 lakh shares of Namaste, only 93,000 shares would be available for public as the bank has set aside 2000 shares for employees and 5000 for mutual fund. The bank has a capital of Rs 1.5 crore, net worth per share of Rs 173.40 and its EPS stands at Rs 21.52. The reserve and surplus position of the bank stands at Rs 1.10 crore.

Likewise, Mission Development Bank has decided to allocate 9,000 units for its employees and the remaining 2.91 lakh shares for general public. The bank hasn’t set shares aside for mutual funds. The bank has a paid up capital of Rs 7 crore. Its earnings per share (EPS) and net worth per share stand at Rs 15.05 and Rs 113.02 respectively. The bank has a reserve capital of Rs 91.16 lakhs.

Gaumukhi is planning to issue 1.2 lakhs shares. Out of the total issue, the bank has decided to allocate 2,400 shares to its employees and set aside 6,000 shares for mutual fund. The bank’s shares’ net worth stands at Rs 102.56, EPS at Rs 21.28 and has Rs 7.17 lakh in its reserve and surplus funds.