The Initial Public Offering (IPO) of Unnati Microfinance Bittiya Sanstha Limited (UNNATI) is closing today, i.e. on 25 Poush, 2074, after four days of its opening. Altogether 165 thousand units of shares of worth Rs. 1.65 crore were announced by the company on 21 Poush, 2074. The maximum closing date for the offer was 5 Magh, 2074.
Siddhartha Capital, the issue manager for the company’s IPO, said, “Around 49 crore rupees has been collected from 1.56 lakh applicants within a duration of four days.”
The least number of units that an applicant could apply for was 10 units whereas the maximum number of units that an applicant could apply for was 820.
6,600 units of shares, i.e. 4% of the shares, has been set aside by the company for its employees, whereas, 8,250 units of shares, i.e. 5% of the shares, has been kept safe for the existing eleven mutual fund companies. Therefore, the company will be allocating 150,150 units of shares to the public.
Unnati Microfinance currently has a paid-up capital of Rs. 3.85 crore. After the IPO shares will be allocated, the paid-up capital of the company will climb up to Rs. 5.50 crore. According to the unaudited report of Unnati Microfinance, in the first quarter of the current fiscal year 2074/75, the company has earned a total of Rs. 45.11 lakhs.
While describing about Unnati Microfinance Bittiya Sanstha, it is a ‘D’ class financial institution licensed by Nepal Rastra Bank, on the basis of Bank and Financial Institutions Act 2003. Established in 2070 B.S., its central office is in Siddharthanagar-12, Rupandehi, Nepal and it has its operations running in 10 different districts with 29 branch offices.