One more microfinance institution inaugurated; IPO shares worth of Rs 1.95 crore to show up in market soon

Manakamana laghubitta Bitiya Sanstha has formally started its operation following the inauguration ceremony that was organized in presence of Director of NRB Bhairahawa branch Mr. Ashok Paudel on Chaitra 5, 2074. The newly started microfinance entity has a paid up value of Rs 6.5 crore out of which 70% i.e. Rs 4.55 crore come under promoters’ holding. The remainin 30% i.e. Rs 1.95 crore would be issued to general public in IPO, as per the press statement issued by the company. The microfinance institution currently has presence in 10 districts which would be gradually expanded to other districts to make it a national level institution, reads the statement further. It is however mulling to open 4 immediate branches in the current fiscal year. Speakers in the inaugural ceremony has expressed their belief that the new entity would be able to support the efforts of poverty alleviation with successful implementation of different financial projects in coming days.