The two emerging microfinance banks are in the process of finalizing Registrar to Share (RTS) before launching the share trading, the officials informed today.
They had issued their IPOs back in August and have already distributed the allotted shares to the investors. The shares of both the companies are being traded informally in OTC in between Rs 450 to 500 per unit.
“We also plan to hold our AGM in the second week of Mangshir,” an official of Sana Kisan Bikas Bank said.
Sana Kisan Bikas Bank’s IPO of 600,000 unit shares issued in the second week of July was oversubscribed by more than 30 times.
Following the IPO managed by Elite Capital, the microfinance bank’s paid-up capital has surged to Rs 20 crore.
Sana Kisan Bikas Bank had allotted 3.2 percent of the applied amount to small investors who had applied for less than 500 shares, and 2.4 percent to bigger investors.
Likewise, investors who had applied for 50 to 290 units were offered 10 units through lottery system.
The IPO of RMDC, another ‘D’ class institution, was also oversubscribed by 11 times when it was issued back in July.
It may be noted here that it had offered 15.6 lakh units of primary shares at a face value of Rs 100 with added premium of Rs 80 in second week of July. The IPO was managed by Ace Capital.
The microfinance had allotted 12.15 per cent of shares to small investors, 6.88 percent to large investors. The investors who had applied for less than 70 units were allotted shares through a lottery system.
-sharesansar
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