Samata Gharelu Microfinance’s FPO Allocation Completed. The Further Public Offering (FPO) allocation of Samata Gharelu Microfinance Financial Institution Limited (SMATA) has been completed. The share allocation was conducted at the office of Muktinath Capital, the issue and sales manager of the microfinance institution.
The microfinance company had issued 350,904.25 units of shares with a face value of Rs. 100 each, amounting to Rs. 35,090,425, from Kartik 12 to Kartik 20. The offering received applications for 1,969,618 share units from 1,348,912 applicants. Out of these applications, 1,399 were rejected while 1,347,513 applications were approved.
Due to oversubscription, the shares were allocated through a lottery system. According to the allocation, 35,090 applicants received 10 shares each. For the remaining 4.25 units, four applicants received 1 share each, and one applicant received 0.25 shares, as reported by the Capital.
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