Nerude IPO Allotted on 14th Feb

Nerude Laghubitta Bikash Bank Limited has allotted 60000 units of share on 14th February 2010 (2066 Falgun 2). Nerude had issued the initial public offering of 60000 units including 2400 units to its staffs at face value of Rs. 100 from 1 to 5 January 2010 (2066 Poush 17 to 21).
Total of 2757591 units of share was applied from 67822 applicants however there was 243 invalid applicants applying for 17991 units of share. Staff applicants numbered to only 154. Finally there was 67425 valid applicants applying for 2737200 units of share excluding staff applicants, nevertheless only 3818 applicants entitled the tag of Nerude Shareholder.
According to SEBON provision on IPO allotment, there is minimum of 40 days and maximum of 70 days to allot the public issue after the closing date. Companies have to allot within 40 days after IPO closing if the number of application is less than 100000. Likewise, if application is between 100000-200000 allotment within 50 days, 200000-300000 within 60 days and if the number of application exceeds 300000, maximum days of allotment will be 70 days. Hence, Nerude allotted its IPO within 40 days of its closing issue as the number of applicants applying for the IPO was less than 100000.

NIDC Capital Markets Ltd. is the issue manager of Nerude.

Click here to view the IPO result of Nerude Laghubitta Bikas Bank. Courtesy: NCML

Click here to view the IPO allotment model. Courtesy: Nepal Sharemarket

Source: Jambnews service