Samata Microfinance to float 94,800 kitta IPO shares from Poush 19; Maximum applications only upto 500 Kitta

Samata Microfinance Bittiya Sanstha Limited is floating its Initial Public Offering (IPO) of unit shares worth Rs 94.80 lakh from Poush 19, 2073. The offer will close on Poush 22, 2073. The maximum closing date for the offer is Magh 4, 2073. Interested investors must apply for a minimum of 50 units of share and they can apply for up to 500 units of share. Since 500 units share is the maximum number of units applicable for the IPO, there will be no large investors as such. The microfinance company has set aside 1,896 unit shares for its employees and 4,740 unit shares for the existing 10 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, Global IME Sammunati Fund, NIBL Pragati Fund, NMB Hybrid FundL-1 and Nabil Equity Fund. NIBL Capital Markets Limited is the issue manager for IPO. The microfinance company plans to raise Rs 94.80 lakh through the offer. After the IPO, the paid up will reach Rs 3.16 crore from the current Rs 2.21 crore. Its authorized capital stand at Rs 5 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%. Samata Microfinance is located at Simara of Bara district of Nepal. The microfinance company’s objective is to boost agricultural production to generate income and employment among the poor by delivering poor friendly and sustainable micro-finance services. The collection centers are as follows: