Bhaktapur Finance IPO from Baishakh 9; 6,97,5000 units for public; ICRA rating 5

ShareSansar April 9:

Bhaktapur Finance Company Limited is set to float its Initial Public Offering of 7,50,000  unit shares from Baishakh 9. The offer will close on Baishakh 14. The maximum closing date for the offer is Baishakh 23, 2072.

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

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

Investors are required to invest in a minimum of 50 units and 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.

The finance has a paid up capital of Rs 12 crore and 50 lakhs which will reach 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.