IPO of Mero Microfinance gets approval of SEBON; IPO to be floated by mid Magh

Mero Microfinance Bittiya Sanstha Limited is a national level microfinance company promoted by 8 commercial banks and 2 development banks. It is planning to issue 6,12,000 Kitta primary shares (IPO) to the general public . Secuities Board of Nepal (SEBON) has approved the IPO issue.

Now this issue must be approved by Office of Company Registrar and the Nepal Rastra Bank. Microfinance is expected to secure these approvals within four business days.

Ram Hari Dahal, CEO of Mero Microfinance said, ” We will publish offer letter of IPO within seven days from today. Law requires application for IPO by investors can only be begin after seven days of publishing offer letter in national daily. So, it would be fair to say investors can start applying for IPO of Mero Microfinance around Magh 12 or Magh 17 at the latest.”

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed IPO amounting to NPR 61.20 million of Mero Microfinance Bittiya Sanstha Limited.

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