National Microfinance to float 3 lakh kitta IPO shares from today; net profit mounts by 292.94% to Rs 4.08 crore in Q4

National Microfinance Bittiya Sanstha Limited is floating its Initial Public Offering (IPO) of 3, 00,000 unit shares worth Rs 3 crore from today (Shrawan 16, 2073). The offer will close on Shrawan 19, 2073 at the earliest. The maximum closing date for the offer is Shrawan 30, 2073. Interested investors must apply for a minimum of 50 units of share and they can apply for up to 10,000 units of share. The microfinance company has set aside 12,000 unit shares for its employees and 15,000 unit shares for the existing seven mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside 2, 73,000 unit share to the general public. NIBL Capital Markets Limited has been appointed as the issue manager for the IPO. 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. It’s authorized capital stand at Rs 50 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%. National Microfinance has commenced its operation in 2014 as a National Level Microfinance Institution. It is committed to exceed customer expectations in all areas of its Business through consistent processes, innovations and Improvements. Meanwhile, National Microfinance Bittiya Sanstha Limited has posted massive profit increase by 292.94 percent in fourth quarter of the fiscal year 2072/73. According to the unaudited financial report published by the microfinance company today, its net profit surged to Rs 4.08 crore in fourth quarter up from Rs. 1.03 crore in the corresponding quarter of the last fiscal year 2071/72. National Microfinance net interest income has also increased to Rs 8.48 crore in Q4 as compared to Rs 2.66 crore in the corresponding quarter. It’s paid up capital remains at Rs 7 crore with reserve of Rs 5.05 crore. The microfinance company’s borrowings reached to Rs 73.45 crore in Q4 from Rs 38.06 crore in the corresponding quarter of last fiscal year. Likewise, it has collected deposits of Rs 10.25 crore and extended loans and advances of Rs 87.76 crore .The deposits and loan amount stood at Rs 2.48 crore and Rs 46.38 crore respectively in the corresponding quarter of previous fiscal year. Its non-performing loan (NPL) stands at 0.69 percent, Earnings per share stands at Rs 58.36 and net worth per share is Rs 172.14.