Samudayik Laghubitta to float 3 lakh unit IPO from today; Applications can be placed for minimum 50 units

Samudayik Laghubitta Bittiya Sanstha's 3 lakh unit IPO will be floated from Mangsir 2 i.e. today. The issue will remain open till Mangsir 5, 2075.

Out of the 3,00,000 units; 12,000 units have been set aside for the employees and 15,000 units have been set aside for the investment funds while the remaining 2,73,000 units will be for the general public.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance.

Previously, 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.

Interested applicants can apply for minimum 50 units and maximum 1,500 units through any financial institutions providing C-ASBA services or through Meroshare.

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.

The company recently posted decent growth in net profit by 40.67% to Rs 40.43 lakh in the first quarter (Q1) of fiscal year 2075/76. The microfinance institution has stated that its operating profit has also increased to Rs 63.54 lakh in Q1 from Rs 45.17 lakh in the corresponding quarter of the last fiscal year.

The micro finance institution’s borrowing remains to be Rs 37.35 crore and has collected Rs 28.73 crore in deposits.

Its non- performing loan (NPL) has increased to 1.23 % in Q1 from 1.17 % in the corresponding quarter of the last fiscal year.

Its earning per share (EPS) has increased to Rs 23.10 in Q1 from Rs 16.42 previous year. Its net worth per share stands at Rs 154.20.