Manakamana Smart Laghubitta issuing 3.89 lakh units IPO share to general public from Ashad 17

Manakamana Smart Laghubitta Bittiya Sanstha Limited will be issuing 3,89,000 units worth Rs 3.89 crore as Initial Public Offering to the general public from (Ashad 17-21, 2078). The early closing date of this issue is on Ashad 21 and if the issue is not fully subscribed till Ashad 21, then it can be extended up to Ashad 31, 2078.

Out of the offered 3,89,000 units; 0.5% of the issued capital i.e. 6,058 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 19,450 units have been set aside for the mutual funds. The remaining 3,63,492 units are for the general public.

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

Applications can be placed for a minimum of 10 units and a maximum of 1,000 units. 

After the issuance of 3,89,000 units worth Rs 3.89 crore IPO shares the general public i.e 32.11% of total capital which will together raise its paid-up capital to Rs 12.11 crore and the promoter/public ratio will be 67.89:32.11. 

ICRA Nepal has assigned the issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus) to Manakamana Smart Laghubitta Bittiya Sanstha Limited (MSLBSL). Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.

Incorporated in January 2018, as Manakamana Laghubitta Bittiya Sanstha Limited, the company started its operation in February 2018 as a licensed 10-district level class D microfinance institution. Later, the company merged with Smart Laghubitta Bittiya Sanstha and started joint operations from July 26, 2020, as a province-level (licensed to operate in Province 5) regional MFI in the name of Manakama Smart Laghubitta Bittiya Sanstha Ltd (MSLBSL). MSLBSL is promoted by 69 individual promoters engaged in different professions. Mr. Dev Singh Bista is the Chief Executive Officer of the company. The registered and corporate office of MSLBSL is in Siddharthanagar-5 Rupandehi, Nepal.

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