Naya Nepal Lagubitta Bikash IPO opens October 3

ShareSansar, Sept 25

Naya Nepal Lagubitta Bikash Bank is opening its Initial Public Offering (IPO) from October 3.

As per the offer letter of the microfinance development bank, it has floated 60,000 unit equity shares of face value Rs 100 each.

NMB Capital is managing the IPO issue, which closes on October 7, but could be extended up to October 17.

Of the 60,000 units being floated in the market, 1,200 units are reserved for its staff and 3,000 units have already been allotted to the mutual funds.

None of the mutual funds have applied for the shares till the offer letter was issued.

The general public can bid for a minimum of 50 units to a maximum of 5,000 units.

As per its offer letter for the IPOs, Naya Nepal Lagubitta Bikash Bank has an authorized capital of Rs 4 crore, issued capital of Rs 2 crore and a paid-up capital of Rs 1.4 crore.

The company established five years back in Dhulikhel in Kavrepalanchowk district has further stated that once the IPO is issued, its paid-up capital will be on par with the issued capital.

It had posted a net profit of Rs 19 lakh and 95 thousand in the fiscal year 2068/69 and its EPS stood at Rs 14.25..