Nepal Seva Laghubitta appoints NMB Capital as issue manager to float 1.80 lakh units IPO shares
- ShareSansar, October 10, 2017 on Featured , IPO News , Latest , Stock Market
Nepal Seva Laghubitta Bittiya Sanstha Limited has appointed NMB Capital Limited as the issue manager to float its Initial Public Offering (IPO). The 1-3 district-level class “D” licensed institution is floating a total of 1,80,000 units IPO shares to the general public, each valued at Rs 100 per share.
Mr. Shiva Kumar Malla, CEO of the microfinance and Mr. Shreejesh Ghimire, CEO of NMB Capital signed the agreement amidst a formal program today at the merchant banker’s premises in Nagpokhari, Naxal. The program also had presence of Mr. Subin Kaji Shrestha, senior manager at Nepal Seva and Mr. Kamal Prasad Nepal, Chief Operating Officer of NMB Capital.
Having commenced its operation since Mangsir 8, 2071, Nepal Seva Laghubitta Bittiya Sanstha Limited has been providing microfinance services to more than 4,700 members through 8 branches in Sindhupalchok, Nuwakot and Rasuwa districts. The company aims to float the IPO by the Chaitra end. After the IPO, its paid-up capital will reach Rs 6 crore from existing Rs 4.20 crore. It has an authorized capital of Rs 10 crore.