Bhaktapur Finance IPO resumes from today; Closing on Baishakh 23

ShareSansar, May 3:

The applications for the initial public offering (IPO) of Bhaktapur Finance Company Limited that
had been halted following the earthquake that occurred on Baishak 12 will be opened from
Baishakh 20 (today).

Investors were able to apply for the 7,50,000 units IPO only on Baishakh 9 and 10 and the
issuance of forms was closed after the earthquake struck on Saturday.

The maximum closing date for the offer has been set for Baishakh 23, 2072.

NMB Capital Limited has been appointed the issue manager and NCM Merchant Banking Limited as co-issue manager for the IPO.

Investors must apply for a minimum of 50 units while they can apply for a maximum of 1,00,000 units.

The company has set aside 37,500 unit shares for mutual funds and 15,000 unit shares for employees while the remaining 6,97,5000 units have been earmarked for public.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 5,” indicating poor fundamentals to the IPO.

The finance has a paid up capital of Rs 12 crore and 50 lakhs which will reach to Rs 20 crore after the IPO. Following the IPO, the promoter-public ratio will stand at 62.50% to 37.50%.

The finance had earned a profit of Rs 88 lakhs as per the financial report for the year 070/071.

The company’s EPS stands at Rs 0.29 and net worth per share at Rs 108.50.