The IPO allotment of Adarsha Laghubitta Bittiya Sanstha Limited (ADARSHA) is concluded today at the premises of the issue manager BOK Capital Market Limited, Govardhan Bhawan, Kathmandu.
Adarsha Laghubitta Bittiya Sanstha Limited (ADARSHA) had issued 67,000 units worth Rs 67 lakh as Initial Public Offering to the general public from (Ashad 1-5, 2079).
Out of the total issue; 0.5% i.e 1,035 unit shares have been allocated to the ordinary shareholders whereas 5% i.e 3,350 unit shares are for mutual funds. The remaining 62,615 unit shares are for the general public. The paid-up capital of the company after the IPO issuance will be Rs. 2.07 crore.
The issue had received applications from 16,72,794 valid applicants who had applied for a total of 1,84,02,460 units. The issue was oversubscribed by more than 293.90 times.
As per the allotment module, a total of 6,261 applicants were allotted 10 units each via lottery and further 5 lucky applicants get 1 unit extra and the remaining 16,66,533 applicants were returned empty hands.
A total of 1,035 units were allotted to the staff of the company and 3,350 units were allotted to mutual funds.
In total 1,858 applicants who applied for 22,440 units were disqualified due to duplicate applications.
The IPO result can be accessed by CDSC IPO Result, BOK Capital, and MeroShare.
CARE Ratings Nepal Limited (CRNL) has assigned the rating of ‘CARE-NP B+ (Is)’ to Adarsha Laghubitta Bittiya Sanstha Limited (ALBS). Issuers with this rating are considered to have a high risk of default regarding timely servicing of financial obligations.
Adarsha Laghubitta Bittiya Sanstha Limited (ALBS) is a “D” class Province Level microfinance institution with the approval of operation in only Bagmati Province through 13 districts. It was incorporated on May 23, 2018, and commenced operations in January 2019. It is promoted by institutions and individuals from different backgrounds and is primarily engaged in providing microfinance loans based on the Joint Liability Group (JLG) model with each group consisting of a minimum of five members.