SEBON approves IPO issue of Nepal Agro Laghubitta Bittiya Sanstha; issue worth Rs.1.61 Crore to open soon

Nepal Agro Laghubitta Bittiya Sanstha Limited is looking to issue Initial Public Offering (IPO) worth Rs.1.61 Crore. The company has proposed to issue 161,778 units at par, issuing 32.50% of the issued capital.

Securities Exchange Board of Nepal (SEBON) has given the final approval to the issue in the lasted list of issues approved published by the board.

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

Nepal Agro Laghubitta Bittiya Sanstha Limited (Nepal Agro Microfinance Bittiya Sanstha Ltd.) was established on 19th April 2016 (2073/01/07). It is registered as a public limited company under Company Act of Nepal 2006. Nepal Agro Laghubitta Bittiya Sanstha Ltd. received operating license from Nepal Rastra Bank as ‘D’ class financial institution on 8th September, 2016 (2073/05/23) to operate under Bank and Financial Institution Act, 2006. Its operation started from 20th September 2016 (2073/06/04).

Central Office of Nepal Agro Laghubitta is located in western part of Nepal, Pokhara, Kaski and it's working districts as of now are Kaski, Parbat, Baglung, Gulmi, Palpa, Salyan, Pyuthan, Rolpa, Tanahu and Lamjung.

As of second quarter of FY 75/76, the share capital of the microfinance company stands at Rs.3.36 Crore and the reserves stand at Rs.23.59 Lakhs. The net interest income for the period stands at Rs.1.04 Crore with net profit of Rs.72.20 Lakhs.