Adarsh Microfinance Financial Institution Limited is going to issue IPO to the public from June 15.
The company is going to distribute 67,000 IPOs at the face value of Rs 100 per share, equivalent to Rs 6.7 million. Out of the total IPOs distributed to the public, 0.5 percent or 1,035 shares have been reserved for the employees of the company. The company has already distributed 5 percent or 3,350 shares to the collective investment fund. Apart from these, the remaining 62,615 IPO lots are about to go public.
There is a provision to demand minimum 10 lots and maximum 1000 lots for the purchase of this IPO. Applications for the IPO can be submitted till June 19. If the demand is not received within that period, the IPO will be on sale till June 29.
However, looking at the trend of applications in previous IPOs, it seems that this IPO will be on sale only till June 20. This IPO sales manager is B.O.K. Capital Market Limited.
Capital structure of the company:
The authorized capital of the company is Rs. 40 million and the issued capital is Rs. 27 million. At present, the company's paid-up capital is Rs 14 million. After the issuance of IPO and distribution, the company's paid-up capital will reach Rs 27 million.
The company has 67.63 percent of the founding shareholders and 32.37 percent of the general shareholders. The proceeds from the IPO will be used to invest Rs 6.7 million in agriculture, animal husbandry, retail trade and service business loans.
Financial Status of the Company:
By the end of the last Fiscal Year 2077/78, this microfinance has accumulated a profit of Rs. 25 lakh 9 thousand. The company's earnings per share during the period stood at Rs 5.13 while net worth per share stood at Rs 122.88. The company's earnings per share is projected to reach Rs 25.09 and net worth per share of Rs 132.34 in FY 2080/81.
The company is expected to get a price range of Rs 122.88 to Rs 368.64 for the first transaction. Nepse sets a price range of up to 3 times the actual net worth per share for the company's first transaction.
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