Kalika Micro Credit Development Bank Limited’s IPOs have been
oversubscribed by more than 2.5 times in just two after they were
floated to the general public.
“The IPOs of Kalika Micro Credit was oversubscribed by more than 2.5 times by Friday,” Kamal Nepal of NMB Capital Limited, the issue manager, told ShareSansar.com today. “The IPO units worth above Rs 5 crore and 41 lakh have already been subscribed.”
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 IPOs 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.
Kalika Micro Credit Development Bank, which is based at Waling in Syangja, was registered with the Securities Board of Nepal on September 4 and as a ‘D” class institution with the Nepal Rastra Bank on September 6.
The general public can bid for a minimum of 20 IPO units to a maximum of 5,000 units when the IPO opens on September 19.
As per its offer letter, 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.
The micro credit development bank has further stated that once the IPOs worth Rs 2 crore is issued to the general public, its paid-up capital will rise to Rs 5 crore.
-sharesansar
“The IPOs of Kalika Micro Credit was oversubscribed by more than 2.5 times by Friday,” Kamal Nepal of NMB Capital Limited, the issue manager, told ShareSansar.com today. “The IPO units worth above Rs 5 crore and 41 lakh have already been subscribed.”
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 IPOs 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.
Kalika Micro Credit Development Bank, which is based at Waling in Syangja, was registered with the Securities Board of Nepal on September 4 and as a ‘D” class institution with the Nepal Rastra Bank on September 6.
The general public can bid for a minimum of 20 IPO units to a maximum of 5,000 units when the IPO opens on September 19.
As per its offer letter, 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.
The micro credit development bank has further stated that once the IPOs worth Rs 2 crore is issued to the general public, its paid-up capital will rise to Rs 5 crore.
-sharesansar
