IPO Allotment Concludes: NESDO Sambridha Laghubitta Welcomes Aboard 77,456 Lucky Applicants

Tue, Mar 8, 2022 1:03 PM on IPO/FPO News, Latest,

The IPO allotment of NESDO Sambridha Laghubitta Bittiya Sanstha Limited is concluded today at Yellow Pagoda Hotel, Jamal, Kathmandu.

NESDO Sambridha Laghubitta Bittiya Sanstha Limited had issued 8,28,750 units worth Rs 8.28 crore as Initial Public Offering to the general public from (Falgun 11-15, 2078). 

Out of the offered 8,28,750 units; 0.5% of the total issue, i.e. 12,750 units have been allocated for employees while 5%, i.e. 41,437 units have been allocated for mutual funds. The rest 7,74,563 shares are for the individual public.

Global IME Capital Limited is the issue manager for this IPO issue.

The issue had received applications from 2,522,955 valid applicants who had applied for a total of 28,734,010 units. The issue was oversubscribed more than 37.09 times. 

As per the allotment module, a total of 77,456 applicants were allotted 10 units each via lottery, and lucky 3 applicants get 1 unit extra and the remaining 24,45,499 applicants were returned empty hands. 

A total of 12,750 units were allotted to the staff of the company and 41,437 units were allotted to mutual funds.

In total 4,146 applicants who applied for 47,510 units were disqualified.

Allotment Module

The IPO result can be accessed by CDSC IPO Result, Global IME Capital, and MeroShare.

NESDO Sambridha Laghubitta Bittiya Sanstha Ltd is promoted by National Educational & Social Development Organization, NESDO Nepal. It was incorporated under Company Act-2063 as a Public Limited Company to be operated as a “D” Class National Level Microfinance. The microfinance has an authorized capital of Rs.50 Crore and its issued and paid-up capital is Rs.17,21,25,000.

NESDO Nepal, Prabhu Bank, and 81 individuals from various sectors are the promoters of NSLBSL. NSLBSL started its operation on 5th March 2019. At present, NSLBSL serves 78,000 families residing in the remote area of Nepal through its 56 branch offices located in 17 districts.

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] BB+ (pronounced ICRA NP Issuer Rating Double B plus) indicating the issue has a moderate risk of default.