Why Are IPO Shares of NESDO Sambridha Laghubitta Still Not Listed in NEPSE?

The IPO allotment of NESDO Sambridha Laghubitta Bittiya Sanstha Limited recently concluded on March 08, but the shares haven't yet been listed in NEPSE or deposited to allottees on their Demat accounts.

NESDO Sambridha Laghubitta Bittiya Sanstha Limited had issued 8,28,750 units worth Rs 8.28 crore as Initial Public Offering to the general public from (Falgun 11-15, 2078). Out of the offered 8,28,750 units; 0.5% of the total issue, i.e. 12,750 units were for employees while another 5% for mutual funds. The rest 7,74,563 shares were issued for the individual public.

The issue had received applications from 2,522,955 valid applicants who had applied for a total of 28,734,010 units. The issue was oversubscribed more than 37.09 times. As per the allotment module, a total of 77,456 applicants were allotted 10 units each via lottery, and lucky 3 applicants get 1 unit extra and the remaining 24,45,499 applicants were returned empty hands. A total of 12,750 units were allotted to the staff of the company and 41,437 units were allotted to mutual funds. In total 4,146 applicants who applied for 47,510 units were disqualified.

NESDO Sambridha Laghubitta then appointed Global IME Capital Market to function as its registrar to shares (RTS). The agreement for the same was signed on Falgun 24, 2078 between MD of the microfinance Mr. Biswo Prasad Prasain and CEO of the Merchant banker Mr. Paras Mani Dhakal, as per the statement.

The share registrar Global IME Capital told Sharesansar that the issuer company (NESDO Laghubitta) submitted its registration to NEPSE yesterday (March 22). Thus, all that the registrar knows is that NEPSE may unveil listing notice this week or the week after.

CDSC's spokesperson, Suresh Neupane, also informed Sharesansar that the company has done the registration procedure in CDSC and received the ISIN. An International Securities Identification Number (ISIN) is a 12-digit alphanumeric code that uniquely identifies specific security.

On-call with Sharesansar, the representative of the exchange NEPSE informed that their CEO may be busy this week on a program organized by SEBON in Dhangadi. If shares aren't deposited and listed this week, shareholders may expect to have the shares listed next Sunday or Monday.