Reminder: NESDO Sambridha Laghubitta Closing IPO Issue Today; Issue Oversubscribed 35.40 Times Already
Sun, Feb 27, 2022 5:56 AM on IPO/FPO News, Latest,
NESDO Sambridha Laghubitta Bittiya Sanstha Limited is closing 8,28,750 units IPO shares to the general public from today ie Falgun 15. This IPO issue was open on Falgun 11, 2078.
8,28,750 shares are 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.
According to CDSC, 23,53,762 applicants have applied for a total of 2,74,26,720 units. This is the data as of 10:07 am today. Thus, the issue has already been oversubscribed 35.40 times.
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.
