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IPO Share issue of Kalika Micro Credit Development Bank Limited from Sept 19

Kalika Micro Credit Development Bank Limited has published an offer letter to issue 2 lakh unit IPO shares to the general public from September 19 to September 23.

The newly established micro credit development bank has stated that the issuance of the IPO can be extended up to October 3.

It has stated that among the 2 lakh IPOs to be floated in the market at the rate of Rs 100 per unit, 4,000 units will be reserved for its staff and 10,000 units will be 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 Scheme-1.

Kalika Micro Credit Development Bank, which is based at Waling in Baglung, got registered and approval for IPO from Securities Board of Nepal on September 4, whereas got registered for IPO in Nepal Rastra Bank on September 6 and in Company Registrar on September 10.

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.

In its offer letter, Kalika Micro Credit has an authorized capital of 10 crore, current issued 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.

Category: Payday loans

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