Namaste Bittiya Sanstha IPO oversubscribed, Rs 1.15 crore collected so far

ShareSansar, June 11:

Namaste Bittiya Sanstha’s IPO is closing from tomorrow outside the Kathmandu Valley and the day after tomorrow in the Valley in view of the holiday on the occasion of Bhoto Jatra on the opening day.

Namaste had issued 100,000 units shares on 24th Jestha, 2070.

As per an official with NMB Capital, the issue and sales manager for Namaste’s shares, the IPO has been oversubscribed with collections of around Rs 1.15 crore so far. The figure could go up as data from outside the Valley is yet to come. Also, with two more days before the IPO closes in the Kathmandu Valley, the official said the collection from the Valley could go up significantly as the investors in the Valley have the habit of applying on the last day.

Namaste’s paid up capital will increase to 2.5 crore after the IPO.

As per the company’s audited financial report for FY 2068/69, its net worth stands at Rs 162.12 and its EPS is Rs 21.53. There is a good chance that the company propose a good number of bonus share from the profit of this fiscal year to its shareholders. Namaste Finance is established under a special provision made by Nepal Rastra Bank with its operations limited to Dang district only.