Rastra Utthan Laghubitta Bittiya Sanstha Limited issuing 8,50,000 units IPO share from Falgun 4
Tue, Feb 8, 2022 6:02 AM on IPO/FPO News, Latest,
Rastra Utthan Laghubitta Bittiya Sanstha Limited will be issuing 8,50,000 units worth Rs 8.5 crore as Initial Public Offering to the general public from (Falgun 4- Falgun 8, 2078). The early closing date of this issue is on Falgun 8 and if the issue is not fully subscribed till Falgun 8, then it can be extended up to Falgun 18, 2078.
Out of the offered 8,50,000 units; 0.5% of the issued capital i.e. 13,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 42,500 units have been set aside for the mutual funds. The remaining 7,94,500 units are for the general public.
NIBL ACE 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 8,50,000 units worth Rs 8.5 crore IPO shares the general public i.e 32.69% of total capital which will together raise its paid-up capital to Rs 26 crore and the promoter/public ratio will be 67.31:32.69.
Rastra Utthan Laghubitta Bittiya Sanstha Limited started its operation in 2075 as a national level class D microfinance institution, licensed by the Nepal Rastra Bank. After its licensing, RULBSL took over the microfinance business of Nepal Rural Development Organization (NeRuDO), a financial intermediary NGO established in 2054.
As of today, the company has a presence in 39 districts with 94 total branches. Nepal Rural Development, Rastriya Banijiya Bank, Prabhu Bank are the major promoters of RULBSL.
ICRA Nepal has assigned the issuer rating of [ICRANP-IR] BB (pronounced ICRA NP issuer rating double B) to RULBSL. Issuers with this rating are considered to have a moderate risk of default regarding timely servicing of financial obligations.
