Kathmandu: Adarsh Microfinance Financial Institution Limited is going to open the issue and sale of ordinary shares to the public.
The company is set to open sale of 67,000 initial public offerings (IPOs) worth Rs 6.7 million per 100 units from July 20. The company has invited applications for the sponsorship of selling 62,615 shares at a face value of Rs 100 per share to the public.
According to the company, out of the total 67,000 shares, 1,035 shares will be allotted to the company’s employees and 3,350 shares will be allotted to the collective investment fund which will be five percent of the eviction.
Investors interested in the issue of shares will be able to apply for a minimum of 10 lots and a maximum of one thousand lots by the 6th of Asar. The company has stated that the eviction will be open till July 30 if the application is not received as per the demand.
Investors can apply for purchase of shares using ‘My Shares’ online at all C-ASWA member banks and financial institutions and their branch offices approved by the Securities and Exchange Board of Nepal (SEB). . The company has been given B Plus IS grading by Care Rating Nepal.