NMB Capital, the issue manager, said that they had received more than Rs 60 crore on the closing day alone, besides more than Rs 30 crore on the initial days.
“However, as we are still collecting the applications from various centers the figure is likely to go up; on the other hand, a few of the checks have also bounced. Hence we won’t be in the position to quote the exact figure before early next week,” an official at NMB Capital told ShareSansar today.
Going by the emerging figures, it can be deduced that the IPO, which was floated on December 8, is apparently oversubscribed by more than 200 times – which is a record.
There were more than 19,000 applicants, including both institutional and small investors, according to the issue manager.
Long serpentine queues could be seen throughout the office hours till the eleventh hour on the closing day in front of the centers where the IPO application forms were to be submitted.
Altogether 858 units had been set aside for the bank’s staff and 2,145 units to the mutual funds and the rest to the general public.
The applicants could apply for at least 50 units and up to 5,000 units.
The microfinance development bank based in Birtamod of Jhapa district has paid-up capital of Rs 1 crore 10 thousand, and its paid-up capital will rise to Rs 1.43 crore after the issuance of the IPO.
The bank’s promoters have 70 percent holding in the company as of now. As the end of the last fiscal year 2069/70, its EPS (annualized) stood at Rs 34.54, and its net worth per share at Rs 144.84.
Given the overwhelming response to the IPO issued by four microfinance development banks – Sana kisan, RMDC, Kalika and Naya Nepal — earlier this year as well as the fact that Nagbeli had issued only 42,900 units of equity shares, this huge over subscription of its IPO was not entirely expected.-sharesansarnews (SSN)
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