Nadep Laghubitta's 4.80 lakh unit IPO shares closing today; Issue already oversubscribed by 9.58 times in two days

Nadep Laghubitta Bittiya Sanstha Limited (NADEP) is closing the issue of 4,80,000 unit shares worth Rs 4.80 crore today (Ashadh 13, 2075). The issue has collected Rs 46 crore until the end of the second day.

The offer was open from Ashadh 10, 2075. The maximum closing date for the offer is Shrawan 7, 2075. 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 has issued 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.

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

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.