BPW Laghubitta Closing 80,950 Units IPO Shares Issue from Today; IPO Already Oversubscribed by 173.28 Times

Tue, Mar 7, 2023 7:12 AM on IPO/FPO News, Latest,

BPW Laghubitta Bittiya Sanstha Limited is closing the issue of its IPO to the general public from today i.e. on 23rd Falgun, 2079. The issue opened on 18th Falgun.

The company has been issuing 80,950 unit shares to the general public of Rs 100 face value. The issued capital of the company is Rs. 3 crores of which 32.33% i.e. 97,000 unit shares worth Rs. 97 lakhs have been set aside to the general public. Out of the total 97,000 units; 10% i.e. 9,700 units were for Nepalese citizens working abroad, whereas 1.50% i.e 1,500 units have been set aside for the employees of the company, and 5% of the total offered shares i.e. 4,850 units have been set aside for the mutual funds. The remaining 80,950 units are for the general public.

Mega Capital Markets is appointed as the issue manager for the IPO issuance. Interested investors can apply for a minimum of 10 shares to a maximum of 1000 shares.

According to CDSC, 12,75,435 applicants have applied for a total of 14,027,800 units. Thus, the issue is already oversubscribed by 173.28 times so far.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus) to BPW Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.

BPW Laghubitta Bittiya Sanstha Limited came into existence in September 2018 and started its operations in April 2019 as an MFI, licensed to operate in Bagmati Province. After its licensing, BPW took over the microfinance business being conducted by Business and Professional Women Patan (BPW Patan), an NGO, established in March 1995 and operating as a financial intermediary since 2002. It is promoted by 72 promoters (71 individual promoters and one NGO BPW Patan with a ~1% equity stake). Mr. Pradeep Koirala is the Acting Chief Executive Officer of the company. The registered and corporate office of BPW is in Banepa -8 Kavre, Nepal.


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