Janasewi and Swabhimaan Laghubitta opening IPO to general public from Baisakh 27; investors can apply minimum 10 units

Thu, May 2, 2019 6:49 AM on IPO/FPO News, Latest,

Janasewi Laghubitta Bittiya Sanstha Limited is issuing 4,63,300 units ordinary shares worth Rs 4.63 crore to the general public from Baisakh 27, 2076. The early closing date of this IPO issue is on Baisakh 31, 2076 and if the issue is not subscribed till Baisakh 31 then this issue can be extended upto Jestha 26, 2076.

Out of the offered 4,63,300 units; 7,145 units have been kept for the employees of the company and 23,165 units have been kept for the mutual funds. The remaining 4,32,990 units are for the general public.

Applications can be place for minimum 10 units and maximum 1000 units. Application can be placed from the financial institutions providing C-ASBA facility or through Meroshare.

NMB Capital Capital Limited has been appointed as the issue manager for the IPO issuance.

The microfinance institution currently has issued capital of Rs 14.43 crore and paid up value of Rs 9.8 crore. After the issuance of the IPO shares, the paid up value  will scale up to Rs 14.43 crore.

ICRA Nepal Limited has assigned a [ICRANP] IPO Grade 4 (Pronounced as ICRA NP IPO Grade Four) to the Rs.4.63 crore worth of Initial Public Offer of Janasewi Laghubitta Bittiya Sanstha Limited. Instruments with this grading are considered to have below-average fundamentals.

The central office of the company is located in western region of Nepal, Kusma , Parbat and working area is 10 District: Parbat, Rukum, Kaski, Baglung, Rolpa, Gulmi, Tanahun, Gorkha, Lamjung and Magdi.

Similarly, Swabhimaan Laghubitta Bittiya Sanstha Limited is issuing 1,98,610 units ordinary shares worth Rs 1.98 crore to the general public from Baisakh 27, 2076. The early closing date of this IPO issue is on Baisakh 31, 2076 and if the issue is not subscribed till Baisakh 31 then this issue can be extended upto Jestha 26, 2076.

Out of the offered 1,98,610 units; 3,093 units (0.5% of issued capital) have been kept for the employees of the company and 9,930 units (5% of total units allocated for general public) have been kept for the mutual funds. The remaining 1,85,587 units are for the general public.

Applications can be place for minimum 10 units and maximum 5000 units. Application can be placed from the financial institutions providing C-ASBA facility or through Meroshare.

Siddhartha Capital Limited has been appointed as the issue manager for the IPO issuance.

After the IPO is issued, the paid up capital of the Rupandehi based microfinance company will be Rs.6.18 Crore.

The company had posted a net profit of Rs.82.85 Lakhs in the second quarter of the fiscal year 2075/2076.