Nadep Laghubitta IPO collects Rs 1.03 arba from 2.19 lakh applicants till the last day; IPO oversubscribed by around 24 times from regular applicants

Nadep Laghubitta Bittiya Sanstha has been issuing its Initial Public Offering (IPO) of 4,80,000 unit shares worth Rs 4.80 crore from Ashadh 10, 2075. Till the last day of issue i.e. today, more than 2,19,000 applicants have places applications for 76 lakh unit shares.

The issue is oversubscribed by 23.89 times till the last day. The issue has closed today (i.e. Ashadh 13, 2075).

Nabil investment Banking Limited has been appointed as the issue manager for the issue.

The microfinance company is issuing 4, 32,000 unit shares at par value of Rs 100 for public. From the 4,80,000 units shares, 24000 units i.e. 5% is separated for the employees of NADEP and 24,000 units i.e. 5% is separated for the Mutual Funds. The remaining 90% i.e. 4, 32,000 units is open for general public. The issued IPO is 30% of its total capital.

 ICRA Nepal, the credit rating agency has assigned ‘Grade 4+’ rating indicating below average fundamentals to the proposed Initial Public Offering (IPO).

NADEP earned Rs 4.46 crore in the third quarter of the fiscal year 2074/75. It has paid-up capital of Rs 11.20 crore with reserve of Rs 15.57 crore in Q3.