Ganapati Microfinance Allots IPO; 31,308 Applicants Provided 10 units

May 03, 2019 Merolagani

Ganapati Microfinance (Ganapati) has allotted IPO in the premises of NIBL Ace Capital, issue manager of the company.

The allotment was based on Securities Issuance and Allotment Bylaws. In the allotment, 31,308 applicants are provided 10 units. Only 9.70 percent applicants managed to obtain the shares while 90.30 percent of applicants were left empty-handed.

The issue was oversubscribed by 20.91 times. A total of 330,151 applicants have sought for 6,571,090 units of shares. As per issue manager, 700 application seeking 15,980 units of shares were cancelled due to error.

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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