Yet another opportunity for general investors to apply IPO; NIC Asia Laghubiitta issuing 47.55 lakh units shares from Ashad 10

Tue, Jun 16, 2020 3:43 PM on IPO/FPO News, Stock Market, Latest,

NIC Asia Laghubitta Bittiya Sanstha Limited is issuing 47,55,000 units ordinary shares worth Rs 47.55 crore to the general public from Ashad 10, 2077. The early closing date of this IPO issue is on Ashad 14, 2077 and if the issue is not subscribed till Ashad 14 then this issue can be extended up to Ashad 24, 2077.

Out of the offered 47,55,000 units; 0.5% of issue capital i.e. 74,000 units have been set aside for the employees of the company and 5% of total offered shares to the general public i.e. 2,37,750 units have been set aside for the mutual funds. The remaining 44,43,200 units are for the general public.

Applications can be placed for a minimum of 10 units and a maximum of 2,00,000 units.

Sanima Capital Limited has been appointed as the issue manager for the IPO issuance.

CARE Ratings Nepal Ltd. (CRNL) has assigned grading of “CARE-NP IPO Grade 4+” to the proposed Initial Public Offer (IPO) of NIC Asia Laghubitta Bittiya Sanstha Ltd. (NALB).

NIC Asia Laghubitta Bittiya Sanstha Limited is a “D” class National Level microfinance institution incorporated on July 25, 2017, licensed by Nepal Rastra Bank on November 24, 2017, and commenced operation on November 28, 2017. It is a 100% subsidiary company of NIC Asia Bank Ltd. and primarily engaged in providing microfinance loans based on the Joint Liability Group (JLG) model with each group consisting of a minimum of five members. As on October 17, 2019, it has Rs 1,005 Mn paid-up share capital which held by promoter shareholders. After the issue of the proposed IPO, the share capital of the company is expected to be Rs 1,480 Mn which will be held by promoter and public shareholders in 67.87: 32.13 ratio.

Click here for Offer Letter:

Click here for Q3 result: