Samudayik Laghubitta 3 lakh units IPO shares postponed till further notice; SBI Merchant the issue manager

Samudayik Laghubitta Bittiya Sanstha Limited has published a notice regarding Initial Public Offering (IPO) issue. As per the notice published in newspaper today and Puskar Sharma, Head of SBI Merchant Banking, "the microfinance company will not be issuing the IPO which the company announces to issue from Magh 9 to Magh 12, 2074. Now, IPO will be issued only after another notice that the company will publish later.He further added there is no specific reasons behind the postponement of issue but the rumour arising in the market about the weakness of financial performance of the microfinance is totally wrong as fundamentals of the company are positive." It will be floating 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 45.11 lakh in the first quarter of the FY 2074/75. Announcement: News regarding IPO Issue: