Ganapati Microfinance to allot IPO on May 3

May 01, 2019 Merolagani

Ganapati Microfinance Bittiya Sanstha (Ganapati) is set to allot IPO on May 3. According to NIBL Ace Capital, issue manager of the company, the IPO has been oversubscribed by 21.56 times.

A total of 329,000 applicants have applied for 6,749,330 units of shares. On the basis of Securities Issuance and Allotment Bylaws, 31,307 applicants will be provided 10 units of shares through lottery while 5 applicants will be provided an additional 1 unit of share.

It means that nearly 297,700 applicants will be left empty handed.

Ganapati Microfinance Bittiya Sanstha issued 313,075 units of shares to general public from April 22-25. Out of the total offering, the company allocated 5,167 units to employees and 16,750 units of mutual funds.


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