Manushi Laghubitta Concludes IPO Issue; What is the Final Application Count?

Manushi Laghubitta Bittiya Sanstha Limited has successfully closed its 3,93,750 units worth Rs 3.93 crore as Initial Public Offering to the general public yesterday, 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 were set aside for the employees of the company and 5% for mutual funds. The remaining 3,68,593 units were for the general public.

Nepal SBI Merchant Banking Limited was appointed as the issue manager for the IPO issuance. According to the issue manager, 20,87,419 applicants have applied for a total of 2,64,36,270 units. This is the verified portion of the application pool, and a small portion of the total collection is yet to go through verification. Thus, the final data may be slightly higher.

After the issuance of the IPO, the paid-up capital will scale to Rs 10.93 crore and the promoter/public ratio will be 64:326.

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.