SEBON Adds IPO Issue of BPW Laghubitta Bittiya Sanstha Under Preliminary Review; 97,000 Units of Shares to be Issued

Thu, Jun 30, 2022 2:30 PM on Latest, IPO/FPO News,

Securities Exchange Board of Nepal (SEBON) has added IPO issue of BPW Laghubitta Bittiya Sanstha Limited (BPW) under preliminary review in the latest list of IPO pipeline status published.

The hydropower company is proposing to come out with an IPO of 97,000 equity shares with a face value of NPR 100 each, at par to raise capital worth Rs. 97 Lakhs to the general public. Mega Capital Markets has been appointed as the issue manager.

BPW Laghubitta Bittiya Sanstha Limited has an authorized and issued capital of Rs. 3 crores. Paid-up capital worth Rs. 2.03 crores has been contributed by the promoters of the company. The remaining Rs. 97 lakhs will be collected from this IPO offering.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus) to BPW Laghubitta Bittiya Sanstha Limited (BPW). Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.

BPW Laghubitta Bittiya Sanstha came into existence in September 2018 and started its operations from April 2019 as an MFI, licensed to operate in Bagmati Province. After its licensing, BPW took over the microfinance business being conducted by Business and Professional Women Patan (BPW Patan), an NGO, established in March 1995 and operating as a financial intermediary since 2002. It is promoted by 72 promoters (71 individual promoters and one NGO BPW Patan with ~1% equity stake).