March 9, 2022 | Investopaper
NESDO Sambridha Laghubitta IPO Allotment
The IPO shares of NESDO Sambridha Laghubitta Bittiya Sanstha Limited has been allotted on Tuesday. Global IME Capital Limited, the issue and sales manager, made the final allotment through lottery. The pre-allotment was completed on Sunday.
According the issue and sales manager, about 25,27,101 people have applied for the company’s IPO. The IPO was oversubscribed by more than 38 times. Of these, 4,146 applications were rejected.
Out of the remaining 25,22,955 eligible applicants, 77,456 applicants were allotted shares at the rate of 10 shares each. Likewise, 3 applicants who applied for 20 shares received one additional share each.
The IPO result (after the allotment) can be viewed on the link below:
NESDO Sambridha Laghubitta IPO
NESDO Sambridha Laghubitta Bittiya Sanstha Ltd issued 828,750 shares in the initial public offering (IPO). At a par value of Rs 100, the public issue amounted to Rs 8.28 crores.
The IPO was open from Falgun 11, 2078 BS. Due to the over-subscription of shares, the public offering was closed on Falgun 15, 2078 BS.
Our of the total 828,750 shares, 12,750 shares were reserved for the employees of the company while 41,437 shares were allotted to the mutual fund schemes. Hence, the general public applied for the remaining 7,74,563 shares.
One could submit the application for a minimum of 10 shares and a maximum of 1,000 shares.
The company received approval from the Securities Board Of Nepal (SEBON) on Magh 9, 2078 BS for the issuance of shares. It has submitted the application to the board seeking approval on Ashad 6, 2078 BS. Only after the approval from SEBON, the company can sell the shares to the general public.
At current, the company has a paid-up capital of Rs 17.21 crores. After the sale of shares in the IPO, the capital will increase to Rs 25.50 crores. The general public will possess 32.50 percent share in the company (after the IPO) while the promoters will hold 67.50 percent ownership.
The company appointed Global IME Capital Limited as the issue and sales manager.
About NESDO Sambridha Laghubitta Bittiya Sanstha
NESDO Sambridha Laghubitta Bittiya Sanstha Ltd is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started its operation from 21 Falgun, 2075 BS (5th March 2019). The major promoters include NESDO Nepal which holds 48 percent share and Prabhu Bank.
As of Ashad’s end 2078 BS, Nesdo Sambridha Laghubitta has a paid-up capital of Rs 17.21 crores with Rs 42.73 crores in reserve and surplus. The company has floated Rs 3.72 Arba as loans and advances. [Based on Unaudited Q4 Report, FY 2077/78].
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