Tuesday, July 16, 2013

RMDC IPO oversubscribed nearly 11 times; Rs 300 crore plus response for Rs 28 crore issue

Riding on the wave of public thirst for Initial Public Offerings, Rural and Microfinance Development Centre IPO was oversubscribed approximately 11 times.

The company had floated 15,60,000 shares with a view to collect Rs 28 crore, but by the end of closing day went on to collect a massive approx Rs 310 crore through total 27,500 applications.

Surprisingly, of the total applications, 20,700 were filed on the last day of IPO.

The company had launched its IPO on Asar 13.

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

The company had set aside 78,000 general shares, from the issued equity shares to general public, for mutual funds, with 26,000 units each allotted to Siddhartha Growth Scheme-1, Nabil Balance Fund-1 and Citizen Investment Trust Scheme.

Ace Capital Limited was the issue manager for this IPO.
src : sharesansar

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