Ganapati Microfinance to issue 3 lakh unit IPO shares; appoints NIBL Ace Capital as issue manager

Ganapati Microfinance Bittiya Sanstha Limited has appointed NIBL Ace Capital Limited as its issue and sales manager for the IPO issuance. It will be issuing 3,00,000 ordinary shares at Rs. 100 per share as its Initial Public Offering for the General Public.

The CEO of Ganapati Microfinance Bittiya Sanstha Limited Mr. Achut Raj Sapkota and the General Manager of NIBL Ace Capital Limited Mr. Mekh Bahadur Thapa had signed on the agreement.

The Ganapati Microfinance Bittiya Sanstha Limited is a class “D” microfinance company licensed by Nepal Rastra Bank on Kartik 30, 2073. After the IPO, its paid up capital will reach Rs. 10 crore from 7 crore. Similarly, the authorized capital and issued capital is Rs. 20 crore and Rs. 10 crore respectively.

The company has outstanding loan of Rs. 56 crore provided to 10,428 deprived sector groups. Similarly, the company has deposit of Rs.13 crore and 26 lakh..

The microfinance company has been providing services from 20 branches located in 12 districts of Nepal.