Kathmandu: An application worth Rs 2.14 billion has been received for the IPO of Adarsh Microfinance. According to CDS, 1,796,684 people have applied for 2,142,610 lots till 5 pm on the last day (July 19). This is 321.68 times more applications based on the number of open lots for sale to the public.
However, as the final figures are yet to come, there may be a general upside. Today (July 19) is the last day to fill this IPO. The company has issued an IPO worth Rs 6.7 million since July 20.
Accordingly, it has issued 67 ordinary shares at the face value of Rs 100 per share. Of this, 5% or 3,350 shares were allocated for collective investment funds and 0.5% or 1,035 shares for employees.
There was an arrangement for the general public to apply for the remaining 62,615 lots. Rating agency Kier Nepal has given ‘Kir NP Single B Plus Issuer Rating’ to the microfinance IPO. Which indicates an average risk in the company’s ability to bear responsibility. In this IPO, BOK Capital is the sales manager.