IPO of Nesdo Sambridha Laghubitta Opening on 11th Falgun, 8,28,750 Shares Being Issued

Wed, Feb 16, 2022 11:46 AM on IPO/FPO News, Latest,

Nesdo Sambridha Laghubitta Bittiya Sanstha Limited has published an offer letter to issue 8,28,750 units of IPO shares. The IPO issue will open on 11th Falgun and close on 15th Falgun, 2078. If not subscribed by the early closing date, the deadline can be extended till 25th Falgun.

8,28,750 shares will be 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.

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.

Offer Letter