The IPO issued by Samaj Microfinance Financial Institution can be distributed today.
Sales manager Siddhartha Capital said that although the company was preparing to distribute the shares on Saturday, it was a public holiday and the issue of distribution was being discussed today as there could be problems for circulation during the ban.
However, Capital said it has not yet decided. Chief Executive Officer of Siddhartha Capital, Dhrub Timalsina, said that the date and time of share distribution will be decided in the next 2-3 hours after discussions with the Securities and Exchange Board and CDSC. He said the shares would be distributed at the office and broadcast live through Capital’s Facebook page.
Samaj Laghuvitta had issued 86,000 shares worth Rs 8.6 million from August 19. Out of which 0.5 percent or 1000 lots was allocated for employees and 5 percent or 4300 lots were allocated for collective investment funds. The general public has applied for the remaining 80,700 lots.
In the IPO, 566,473 applicants have applied for 12 million 15 thousand 820 lots worth Rs 1.20 billion. Only 8,070 people will get the company’s IPO from the round.