Jalpa Community Microfinance Financial Institution has distributed an initial public offering (IPO) to the public. The shares were distributed at the office of Prabhu Capital Limited, the manager of securities issuance and sale of the company.
According to the sales manager, a total of 279,855 people had applied for the purchase of 3,147,150 shares in the IPO issued by the company. Out of the applications, 122,443 applications have been rejected and out of the remaining 2,587,412 eligible applicants, 48,790 applicants have been allotted shares at the rate of 10 lots.
Microfinance has been allocating five percent of the ordinary shares or 26,100 shares to the collective investment fund at a face value of Rs.100 per share, and the remaining 87,900 shares were open for the public.
The results of the allotment can be viewed through the respective company, sales manager, and CDS & Clearing Limited's website (MeroShare), the company said.
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