Nadep Laghubitta IPO collects Rs 22 crore from 52,000 applicants till 12 PM of second day; IPO oversubscribed by 4.58 times from regular applicants

Nadep Laghubitta Bittiya Sanstha Limited has been issuing its Initial Public Offering (IPO) of 4,80,000 unit shares worth Rs 4.80 crore from Ashadh 10, 2075. Till 12 PM of the second day of issue, more than 52,000 applicants have placed applications for 22 lakh unit shares.

The issue is oversubscribed by 4.58 times till 12 PM of the second day. The issue will be closed on Ashadh 13, 2075.

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

Interested investors must apply for a minimum of 20 units of share and they can apply for up to maximum 2,400 units of share.

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.