Mahuli Microfinance's FPO Distribution Scheduled for Tomorrow Morning, Share Acquisition Relies on Luck

The FPO of Mahuli Microfinance is set to be distributed on Poush 19, Friday. According to the sales manager, Laxmi Sunrise Capital, the FPO distribution process will begin at 10:30 AM at the office located in New Baneshwor.

It seems that only luck will favor those applying for this FPO, as there have been 52.34 times more applications than demand. In this FPO, 1,758,853 individuals applied for a total of 24,885,840 shares through a lottery process. However, only 47,545 individuals will receive shares, while 1,711,308 individuals will go home empty-handed.

Mahuli Microfinance issued an FPO worth NPR 47,544,915 between Poush 5 and 9. Under this offering, 475,449 shares at a face value of NPR 100 per share were issued.

The sales manager for this public offering is Laxmi Sunrise Capital. The credit rating agency ICRA Nepal has assigned the FPO a 'ICRA Issuer Rating B Minus', indicating that it is considered moderately safe.