Ganapati Microfinance to allot IPO today at 10:30 AM

May 03, 2019 Merolagani

Ganapati Microfinance (@Ganapati) is set to allot the IPO today at 10:30 AM in the premises of NIBL Ace Capital, issue manager of the company.

The allotment will be based on Securities Issuance and Allotment Bylaws, thus, 31,302 applicants will be provided 10 units while 5 applicants will be provided 11 units of shares.

The issue has been oversubscribed by 21.63 times. A total of 330,151 applicants have sought for 6,772,420 units of shares. Out of the total applicants, only 31,307 applicants will obtain the shares while 298,700 applicants will be left empty-handed.

Ganapati Microfinance Bittiya Sanstha issued 313,075 units of shares to the 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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