Kalika Micro Credit Development Bank Limited has announced that it will close its IPO today.
“We received more than Rs 17 crore for the IPO by yesterday,” Kamal Nepal of NMB Capital Limited, the issue manager, told ShareSansar.com. “Today we expect the IPO to draw more amount than the total money collected in the past three days, as the most of the bigger investors and financial institution apply in the last day.”
The development bank had floated issue 2 lakh unit IPO shares in the market at the rate of Rs 100 per unit on September 19, i.e. last Thursday, to collect Rs 2 crore.
As the IPOs to be subscribed the most during the day of book closure, Kalika Micro Credit’s IPOs are likely to be oversubscribed by many folds.
Among the 2 lakh IPOs floated in the market, 4,000 units are reserved for its staff and 10,000 units are reserved for the mutual funds.
Of the 10,000 unit IPO allotted to the mutual funds, the development bank has already set aside 5,000 unit shares to Nabil Balance Fund and the remaining 5,000 units to Sidhartha Investment Growth Plan-1.
The general public could bid for a minimum of 20 IPO units to a maximum of 5,000 units.
Kalika Micro Credit has an authorized capital of 10 crore, current capital of Rs 5 crore and a paid-up capital of Rs 3 crore.
With the IPO issuance, its paid-up capital will now rise to Rs 5 crore.
OFFICIAL NOTICE
-sharesansar
“We received more than Rs 17 crore for the IPO by yesterday,” Kamal Nepal of NMB Capital Limited, the issue manager, told ShareSansar.com. “Today we expect the IPO to draw more amount than the total money collected in the past three days, as the most of the bigger investors and financial institution apply in the last day.”
The development bank had floated issue 2 lakh unit IPO shares in the market at the rate of Rs 100 per unit on September 19, i.e. last Thursday, to collect Rs 2 crore.
As the IPOs to be subscribed the most during the day of book closure, Kalika Micro Credit’s IPOs are likely to be oversubscribed by many folds.
Among the 2 lakh IPOs floated in the market, 4,000 units are reserved for its staff and 10,000 units are reserved for the mutual funds.
Of the 10,000 unit IPO allotted to the mutual funds, the development bank has already set aside 5,000 unit shares to Nabil Balance Fund and the remaining 5,000 units to Sidhartha Investment Growth Plan-1.
The general public could bid for a minimum of 20 IPO units to a maximum of 5,000 units.
Kalika Micro Credit has an authorized capital of 10 crore, current capital of Rs 5 crore and a paid-up capital of Rs 3 crore.
With the IPO issuance, its paid-up capital will now rise to Rs 5 crore.
OFFICIAL NOTICE
-sharesansar
