IPO of Nesdo Sambridha Laghubitta Closing on Sunday, Issue Oversubscribed Over 27.38 Times Already

Nesdo Sambridha Laghubitta Bittiya Sanstha Limited has opened its IPO issue from 11th Falgun. The IPO issue will close on Sunday, i.e. 15th Falgun, 2078.

8,28,750 shares have been issued at a par value of Rs. 100 per unit. 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.

The minimum bid quantity is 10 units while the maximum is 1,000 units.

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.

Global IME capital has been appointed as the issue manager for the IPO issuance. According to CDSC, 18,01,961 applicants have applied for a total of 2,12,10,810 shares. This is the data as of 10: 06 am today. Thus, the issue has already been oversubscribed more than 27.38 times.

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.

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