Swadeshi Laghubitta to float 3 lakh kitta IPO shares from Chaitra 25; Applicants can apply up to 1500 Kitta shares

Swadeshi Laghubitta Bittiya Sanstha Limited will be floating its Initial Public Offering (IPO) of 3,00,000 unit shares worth Rs 3 crore from Chaitra 25, 2073. As per the notice published by the microfinance company today, the offer will close on Chaitra 29, 2073 at the earliest. The maximum closing date for the offer is Baisakh 8, 2073. Interested investors must apply for a minimum of 50 units of share and they can apply for up to 1,500 units of share. The microfinance company has set aside 12,000 unit shares for its employees and 15,000 unit shares for the existing ten mutual fund companies. The mutual fund schemes are Nabil balance fund-1, Nabil Equity Fund, NMB Sulav Investment Fund – 1, NMB Hybrid Fund L-1, NIBL Sambriddhi Fund – 1, NIBL Pragati Fund , Laxmi Value Fund -1, Siddhartha Equity Oriented Scheme, Siddhartha Investment Growth Scheme- 1 and Global IME Sammunati Fund. The company has set aside a total of 2, 73,000 unit share to the general public. NMB Capital Limited has been appointed as the issue manager for the IPO. The microfinance company plans to raise Rs 3 crore through the offer. After the IPO, the paid up will reach Rs 10 crore from the current Rs 7 crore. Its authorized capital stands at Rs 20 crore. After the IPO, the promoter-public ratio of the company will be 70 % to 30%. Itahari-based Swadeshi Laghubitta had initiated microfinance operations from December 24, 2014. It had earned a net profit of Rs 1.35 crore till the end of second quarter of the FY 2073/74. Collection Centers are