Reliable Microfinance IPO from Ashad 22; 1, 42,500 unit shares for general public

ShareSansar June 30:

Lamjung based Reliable Microfinance Bittiya Sanstha Limited has published a notice announcing its Initial Public Offering of 1,50,000 unit shares. The company has permission to expand its business within 10 disricts.

The offer will open on Ashad 22 and close on Ashad 25. The maximum closing date for the offer is Shrawan 5, 2072.

Interested people must apply for a minimum of 50 units of share and they can apply for up to 1,000 unit of share.

The microfinance has set aside 7,500 unit shares for the mutual fund and 1,42,500 for general public which also includes 3000 unit shares for its employees.

Civil Capital Market Limited is assigned as the issue manager for the IPO.

The microfinance company plans to raise Rs 1.50 crore through the offer. After the IPO, the paid up will reach Rs 5 crore from the current Rs 3.50 crore. After the IPO, the promoter-public ratio in the company will be 70% to 30%.

It earned a net profit of Rs 41.07 lakh in its 2nd quarter of the fiscal year 2071/72 and its net worth per share stands at Rs 97.67.

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