Last Day to Apply for IPO of Manushi Laghubitta; IPO Already Applied by more than 18 lakhs investors
Sun, Aug 15, 2021 4:02 AM on IPO/FPO News, Stock Market, Latest,
Manushi Laghubitta Bittiya Sanstha Limited is closing its 3,93,750 units worth Rs 3.93 crore as Initial Public Offering to the general public from today i.e Shrawan 31. This IPO issue was opened from Shrawan 27.
Out of the offered 3,93,750 units; 0.5% of the issued capital i.e. 5,469 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 19,688 units have been set aside for the mutual funds. The remaining 3,68,593 units are for the general public.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance. According to the issue manager, 18,56,550 applicants have applied for a total of 2,40,43,150 units. Thus, the issue is already oversubscribed over 65.229 times on the third day itself.
Applications can be placed for a minimum of 10 units and a maximum of 1,000 units.
After the issuance of 3,93,750 units worth Rs 3.93 crore IPO shares the general public i.e 36% of total capital which will together raise its paid-up capital to Rs 10.93 crore and the promoter/public ratio will be 64:326.
CARE Ratings Nepal Limited (CRNL) has assigned the issuer rating of “CARE-NP B+ (Is) [Single B Plus (Issuer)]” to Manushi Laghubitta Bittiya Sanstha Limited (MLBSL). Issuers with this rating are considered to offer a high risk of default regarding timely servicing of financial obligations, in Nepal.
Manushi Laghubitta Bittiya Sanstha Ltd. (MLBSL) is a “D” class national level microfinance incorporated on June 24, 2018, licensed by Nepal Rastra Bank on October 11, 2018, and commenced operation on October 29, 2018. Thereafter, MLBSL took over the microfinance business conducted by the Manushi, an NGO established in 1991 and operating as a financial intermediary since April 2002 in Nepal. MLBSL is primarily engaged in providing microfinance loans based on the Joint Liability Group (JLG) model with each group consisting of a minimum of five members.
