IPO of NADEP Laghubitta subscribed by nearly 9 times ; Collects over 44.23 crores till 12 pm today

As per the officials of CDSC, the ongoing IPO of NADEP Laghubitta has collected nearly Rs 44.23 crores from 1,22,392 applicants. The public issue has already been oversubscribed by 9.21 times by 12 pm today. The IPO is scheduled to close tomorrow. 

Since, "the minimum of 10 units for applicants" rule applies in the IPO,  43,200 applicants from general public will be allotted with 10 units each. Thus, in terms of applicants the public issue has been oversubscribed by 2.83 times.

NADEP Laghubitta is floating 4,80,000 units shares at a face value of Rs 100. However, 24,000 units (5%) has been set aside for company's employees whereas the other 24,000 units (5%) has been set aside for mutual funds. A total of 4,32,000 units are available for the general public. 

An applicant needs to apply for a minimum of 20 units whereas the upper ceiling is of 2,400 units. 

Nabil Investment is the issue manager for the IPO. ICRA Nepal, has assigned ‘Grade 4+’ rating to the proposed Initial Public Offering (IPO).

NADEP had 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. The paidup capital will shoot to Rs 16 crores after the IPO. The per share earning (EPS) stood at Rs 53.09 in the 3rd quarter of this fy..