Securities Exchange Board of Nepal (SEBON) has given the final approval to the IPO issue of Gurans Laghubitta Bittiya Sanstha Limited in the latest list of issues approved published by the board.
The company is issuing Initial Public Offering (IPO) worth Rs 2.5 Crore. The company has proposed to issue 2,50,000 units at par value of Rs 100 each, issuing 32.26% of the issued capital.
NIBL ACE Capital Limited has been appointed as the issue manager for the IPO issuance.
The microfinance institution currently has issued capital of Rs 7.75 crore and paid up value of Rs 5.25 crore. After the issuance of the IPO shares, the paid up value will scale up to Rs 7.75 crore.
The institution was established in BS 2073 and is currently providing microcredit facilities to 11K rural members through its 22 branches located at 10 different districts of province 1.