Suryodaya Laghubitta to float 1.20 lakh kitta IPO shares from Bhadra 12; Applicants can apply up to 1,000 Kitta

Suryodaya Laghubitta Bittiya Sanstha Limited will be floating its Initial Public Offering (IPO) of 1, 20,000 unit shares worth Rs 1.20 crore from Bhadra 12, 2073. The offer will close on Bhadra 15, 2073 at the earliest. The maximum closing date for the offer is Bhadra 26, 2073. Interested investors must apply for a minimum of 50 units of share and they can apply for up to 1,000 units of share. The microfinance company has set aside 4,800 unit shares for its employees and 6,000 unit shares for the existing seven mutual fund companies. The mutual fund schemes are Nabil balance fund-1, NMB Sulav Investment Fund – 1, NIBL Sambriddhi Fund – 1, Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside 1, 09,200 unit share to the general public. Global IME Capital Limited has been appointed as the issue manager for the IPO. The microfinance company plans to raise Rs 1.20 crore through the offer. After the IPO, the paid up will reach Rs 4 crore from the current Rs 2.80 crore. It’s authorized capital stand at Rs 8 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%. The head office of the company is located in Putali Bazar of Syangja whereas its working areas are Baglung, Myagdi, Parbat, Syangja, Manang, Lamjung, Mustang, Gulmi, Pyuthan and Rolpa. Suryodaya Laghubitta has earned net profit of Rs 1.49 crore in the fourth quarter of the last fiscal year 2072/73. Collection Centers are: