Kathmandu. The IPO of Emerging Nepal Limited, which went public since Wednesday, has received 14.41 times more applications than the demand on the first day itself. CDS and Clearing Limited has informed that applications for 74.47 million 320 lots have been received from 633,217 applicants till 5 pm on the first day.

The company has raised Rs. A total of 555,600 shares at face value of Rs 100 each are to be sold to the public. Out of the total lot, 2 percent or 11 thousand 112 lots have been reserved for the employees and 5 percent or 27 thousand 780 lots have been reserved for the collective investment fund. Apart from these, the remaining 516,708 shares have been issued to the public. As more applications were received than the demand on the first day, the company's IPO will be on sale only till March 20.

NIC Asia Capital Limited has been appointed as the sales manager. For this IPO purchase, along with the sales manager, all the banks and financial institutions participating in ASBA service and the branch offices of the three and also through My Share software and app can apply. The IPO has been given an ICRA NP IR Double B Plus rating by ICRO Nepal indicating moderate risk for timely fulfillment of financial obligations. Currently, the company's paid-up capital is Rs. 504 million.