Samudayik Laghubitta 3 lakh units IPO issue still in dilemma; Issue manager gives hope for the issue in near future

Samudayik Laghubitta Bittiya Sanstha Limited’s IPO has not yet been issued even after two months of its postponement. The company had announced to issue the IPO from Magh 9 to Magh 12, 2074. However, the day before the date of issue, i.e. on Magh 8, 2074 the company had published a notice regarding the postponement of the IPO issue until further notice. (See the notice of the postponement of the IPO here.) According to an official of Nepal SBI Merchant Banking, the issue manager for the IPO, “the microfinance company is in the process of issuing the IPO for which the discussion is ongoing with Nepal Rastra Bank.” He further added there is no specific reasons behind the postponement of issue. He also gave hopes for the issue of the IPO to be issued soon once the settlement with NRB is done. The company had floated its Initial Public Offering (IPO) of 3,00,000 unit shares worth Rs 3 crore. Nepal SBI Merchant Banking Limited is the issue manager for IPO. The IPO of Samudayik Laghubitta will be the first public offering managed by Nepal SBI Merchant Banking Limited. Samudayik Laghubitta is located at Kavrepalanchowk district of Nepal. At present, the microfinance company is rendering financial services through 32 branch offices. Samudayik has paid-up capital of Rs 7 crore, and after issuance of IPO shares its capital will reach Rs 10 crore. It had posted net profit of Rs 53.97 lakh in the second quarter of the FY 2074/75. See the news regarding the IPO issue along with offer letter here.