Last day to apply for 3 lakh units IPO shares of Swadeshi Laghubitta

Swadeshi Laghubitta Bittiya Sanstha Limited has been floating its Initial Public Offering (IPO) of 3,00,000 unit shares worth Rs 3 crore from Chaitra 25, 2073 and today (Chaitra 29, 2073) is the last day to apply for the same. The IPO has already been oversubscribed by more than 23 times till the second day. The offer will close today after banking hours (3:00 PM). Interested investors must apply for a minimum of 50 units of share and they can apply for up to 1,500 units of share. The microfinance company has set aside 12,000 unit shares for its employees and 15,000 unit shares for the existing ten mutual fund companies. The mutual fund schemes are Nabil Balanced Fund-1, Nabil Equity Fund, NMB Sulav Investment Fund – 1, NMB Hybrid Fund L-1, NIBL Sambriddhi Fund – 1, NIBL Pragati Fund , Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunat Scheme. The company has set aside a total of 2, 73,000 unit share to the general public. Interested applicants can collect application forms and submit the forms at NMB Capital Limited, Naxal, and designated branches of NMB Bank, ICFC Finance, Ace Capital and Laxmi Capital Market. Applicants can also apply from all branches of ASBA-approved banks and financial institutions. Itahari-based Swadeshi Laghubitta had initiated microfinance operations from December 24, 2014. It has earned a net profit of Rs 1.35 crore till the end of second quarter of the FY 2073/74 The microfinance company plans to raise Rs 3 crore through the offer. After the IPO, the paid up will reach Rs 10 crore from the current Rs 7 crore. Its authorized capital stands at Rs 20 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%.