IPO for General Public: Adarsha Laghubitta Issuing 67,000 units IPO shares from Ashadh 1

Adarsha Laghubitta Bittiya Sanstha Limited (ADARSHA) has published an offer letter to issue its Initial Public Offering (IPO) to the general public.

The IPO issue will open on 1st Ashadh and close on 6th Ashadh, 2079. If not subscribed by the early closing date, the issue will close on 15th Ashadh. 67,000 unit shares worth Rs. 67 lakhs will be issued at a par value of Rs. 100 per share. This is 32.37% of the company's issued capital. Out of total issue; 0.5% i.e 1,035 unit shares have been allocated to the ordinary shareholders whereas 5% i.e 3,350 unit shares is for mutual funds. The remaining 62,615 unit shares is for the general public. The paid up capital of the company after the IPO issuance will be Rs. 2.07 crore.

BOK Capital Market has been appointed as the issue manager for the IPO issuance. The interested investors can apply for a minimum of 10 shares to a maximum of 1000 shares.

CARE Ratings Nepal Limited (CRNL) has assigned rating of ‘CARE-NP B+ (Is)’ to Adarsha Laghubitta Bittiya Sanstha Limited (ALBS). Issuers with this rating are considered to have high risk of default regarding timely servicing of financial obligations.

Adarsha Laghubitta Bittiya Sanstha Limited (ALBS) is a “D” class Province Level microfinance institution with approval of operation in only Bagmati Province through 13 districts. It was incorporated on May 23, 2018, and commenced operations from January 2019. It is promoted by institution and individuals from different background and is primarily engaged in providing microfinance loan based on the Joint Liability Group (JLG) model with each group consisting of minimum five members.

Offer Letter