Aatmanirbhar Laghubitta Closing IPO To General Public From Falgun 15

February 27, 2023 | Investopaper

Aatmanirbhar Laghubitta Bittiya Sanstha Limited is currently selling shares in the Initial Public Offering (IPO).

The IPO to general public is open from Falgun 11, 2079 BS. The company is issuing 183,042 shares to the public at a par value of Rs. 100. Hence, the total public issue amounts to Rs. 1.83 crores.

Due to over-subscription of shares, the issue will close on Falgun 15, 2079 BS.

Out of 183,042 shares, 10,170 shares are allotted to the mutual fund schemes while 3,117 shares are reserved for the employees of the company. Hence, the general public can participate in the remaining 1,69,755 shares.

Interested investors can apply for a minimum of 10 shares and a maximum of 1,000 shares.

In the first phase, the company had sold 20,338 shares (10 percent of general public’s quota) to the Foreign-Employed Nepalese from Magh 16, 2079 BS. The first phase of the IPO was closed on Falgun 1, 2079 BS.

Interested Nepalese in foreign employment could apply for a minimum of 10 shares and a maximum of 1,000 shares.

Securities Board Of Nepal (SEBON) granted the approval to the company on Poush 17, 2079 BS for the public issuance. Only after the approval from the regulatory body SEBON, the company can sell the shares to the public.

Sunrise Capital Limited is the issue and sales manager for public offering. The MoU was signed between Chief Executive Officer Saugatbir Chaudhary on behalf of the company and Chief Executive Officer Bijay Lal Shrestha on behalf of Sunrise Capital Limited.

Aatmanirbhar Laghubitta is a licensed ‘D’ class microfinance company of Nepal established in 2075 BS. The head office is located in Ghorahi, Dang. At current, it is providing microfinance services in the Dang, Salyan, and Banke districts.

As of Ashad’s end 2079 BS, Aatmanirbhar Laghubitta has a paid-up capital of Rs. 4.20 crores. With the issue of IPO, the capital will increase to Rs. 6.23 crores. 

After the IPO (if fully subscribed), the general public will own 32.625 percent shares in the company while the promoters will hold the remaining 67.375 percent shares.

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