SEBON approves 3 lakh units IPO of Swadeshi Laghubitta

Securities Board of Nepal (SEBON) has approved the issuance of 3 lakh units IPO shares of Swadeshi Laghubitta Bittiya Sanstha Limited. The microfinance will be floating 3 lakh units shares at a face value of Rs 100 per share to the general public. NMB Capital Limited has been appointed as the issue manager. Itahari-based Swadeshi Laghubitta had initiated microfinance operations from December 24, 2014. Currently, its paid up capital remains at Rs 7 crore with 100% promoter shareholding. After this IPO, its paid up capital will reach Rs 10 crore with promoter and public shareholding structure at 70:30. It had earned a net profit of Rs 1.35 crore till the end of second quarter of the FY 2073/74.