IPO of CYC Nepal Laghubitta Opening From Baisakh 02

CYC Nepal Laghubitta Bittiya Sanstha Limited has published an offer letter to issue its IPO. The issue will open on 2nd Baisakh, 2079, and conclude on 6th Baisakh, 2079. If not subscribed fully by the early closing date, the deadline can be extended till 16th Baisakh.

CYC Nepal Laghubitta Bittiya Sanstha Limited had submitted an application to the regulatory board SEBON proposing to issue 3,95,336 shares via an Initial Public Offering (IPO). SEBON then approved the proposal on Chaitra 09.

The company has a total of 12,16,418 registered shares of which 3,95,336 shares will be issued in the upcoming IPO. Thus, the IPO will raise a total of Rs. 3,95,33,600 in paid-up capital. Of the total public issue, 0.5%, i.e. 6,082 shares have been reserved for employees while 5%, i.e. 19,766 shares for mutual funds. The remaining 3,69,488 shares are then for the individual public.

Applicants can apply for a minimum of 10 units to a maximum of 1000 units.

Global IME Capital has been appointed the issue manager for the IPO issue. The issue manager agreement was signed between the managing director of the microfinance company, Mr. Dolindra Prasad Sharma, and the deputy CEO of the capital, Mr. Parag Bista.

CYC Nepal Laghubitta is a microfinance company with its central office in Baglung. The company recently acquired Shaligram Laghubitta, another microfinance company with its central office in Beni, Myagdi. After a successful acquisition process, CYC Nepal Laghubitta and Shaligram Laghubitta have commenced joint operation in the name of CYC Nepal Laghubitta Bittiya Sanstha Limited from 29th Ashar, 2078.

After the acquisition, the authorized capital of the company has scaled to Rs. 20 crores and the issued capital has scaled to Rs. 12,16,41,837.04. Promoters own 67.5% of the company, the rest of which will be fulfilled via this IPO.

The microfinance company has 37 branches and serves more than 47,000 families at the national level.

Offer Letter