BPW Laghubitta Issuing 80,950 Shares To General Public From Falgun 18 [IPO]

March 2, 2023 | Investopaper

BPW Laghubitta Bittiya Sanstha Limited is currently issuing shares in the Initial Public Offering (IPO). The company is selling 87,300 shares to the general public in the second phase of the IPO from Falgun 18, 2079 BS. 

If fully subscribed, the issue will close on Falgun 23, 2079 BS. However, if it remains under-subscribed until that period, the deadline for application will extend until Chaitra 2, 2079 BS.

Out of 87,300 shares, 4,850 shares are allotted to the mutual fund schemes while 1,500 shares are reserved for the employees of the company. Hence, the general public can participate in the remaining 80,950 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 9,700 shares (10 percent of general public’s quota) to the Foreign-Employed Nepalese from Magh 22, 2079 BS. The first phase of the IPO was closed on Falgun 8, 2079 BS.

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

In total, the microfinance company is floating 97,000 shares to the public at a par value of Rs. 100. Hence, the total public issue amounts to Rs. 0.97 crores.

Related: Upcoming Initial Public Offerings (IPO) In Nepal

Securities Board Of Nepal (SEBON) had given the permission to the company on Poush 4, 2079 BS. The company had submitted the application to the board on Ashad 8, 2079 BS BS seeking permission for public issuance. Only after the approval from the SEBON, the company can issue shares to the public.

Mega Capital Markets Limited is the issue and the sales manager. An agreement was reached between the microfinance company and Mega Capital in this regard.

After the IPO (if fully subscribed), the general public will own 32.33 percent share in the company while the promoters will hold the remaining 67.67 percent share.

About BPW Laghubitta Bittiya Sanstha Ltd

BPW Laghubitta Bittiya Sanstha Ltd is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. The company started the microfinance operation from April 15, 2019 BS. The head office of the microfinance is located at Banepa, Kavrepalanchowk.

BPW Laghubitta Bittiya Santha Limited is currently in an agreement for a merger/acquisition with Samudayik Laghubitta Bittiya Sanstha Limited.

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