Kathmandu. The IPO of Nashdo Prosperous Microfinance Financial Institution Limited is scheduled to take place next Tuesday. Global IME Capital, the sales manager, said the pre-allotment would be completed on Sunday and the final distribution would be made on Tuesday. About 2.6 million people have applied for the company's IPO. Only 77,456 people will get the IPO of this company which has received 38 times more applications than the demand.
The company will distribute 774,563 IPOs to the public next Tuesday. According to the current distribution system, 74 thousand 563 out of the eligible applicants will be allotted shares at the rate of 10 lots in the first phase through round robin. After that, the remaining 3 lots of shares will be given to three more people at the rate of one lot. In this way, those who get more IPO of the company will get up to 11 lots.
The company's IPO has been given an ICRA NP IR Double B Plus rating by ICRA Rating indicating that Nepal has an average risk of meeting its financial obligations on time. At present the paid up capital of the company is Rs. 172.12 million. After the IPO allotment, the capital will be Rs. 255 million. The company, which is currently 67.50 percent owned by the founders, will distribute 32.50 percent shares to the public.