Last Day to Apply for Trade Tower Limited’s Oversubscribed IPO
Investors can apply for a minimum of 10 units and a maximum of 1,000 units through C-ASBA member banks and financial institutions or via the Meroshare online platform.
Today, Tuesday, Jestha 20, marks the final day for investors to apply for the initial public offering (IPO) of Trade Tower Limited. The IPO, which opened on Wednesday, Jestha 14, has drawn massive interest from the investing public and will close by the end of official banking hours today.
The company has issued a total of 39,71,693 units, which is 48.696% of its paid-up capital of Rs. 81.56 crore. Out of this, 3,97,169 units (10%) were allocated to Nepali citizens working abroad and already completed allotment. The remaining 35,74,524 units have been made available for the general public at a face value of Rs. 100 per share.
According to CDSC (Central Depository System and Clearing Ltd), as of Monday evening (Jestha 19, 5:06 PM), a total of 19,61,391 investors had applied for 2,33,60,070 units, oversubscribing the public issue by 7.09 times. This high demand reflects strong investor confidence in the company.
Investors can apply for a minimum of 10 units and a maximum of 1,000 units through C-ASBA member banks and financial institutions or via the Meroshare online platform.
The IPO is managed by Laxmi Sunrise Capital Limited, a licensed merchant banker in Nepal. The credit rating agency ICRA Nepal has assigned Trade Tower Limited an [ICRA NP] BB- (Double B Minus) issuer rating. This rating suggests a moderate risk regarding the company’s ability to meet its financial obligations in a timely manner. The rating was issued on Magh 7, 2081, and will remain valid until Magh 7, 2082.