April 22, 2019 | Investopaper
Ganapati Microfinance Bittiya Sanstha Limited is going to issue IPO from today (Baisakh 9, 2076). The microfinance will float 3,35,000 shares as IPO to the general public. The IPO is worth Rs. 3.35 crores. After the IPO, the general public will possess 32.37 percent shares of the company. The promoters hold 67.63 percent or 7 lakhs units shares of the company.
Out of 3.35 lakh IPO shares, 5,175 shares are reserved for the employees of the company. Likewise, 16,750 shares have been allotted to the mutual funds. The general public will participate in the remaining 3,13,075 shares.
The interested investors can apply for a minimum of 10 shares and a maximum of 1,500 shares at the par value of Rs. 100.
Care Ratings has given Grade 4 ratings for the IPO. This indicates that the fundamentals of the company are below average.
The IPO issue will close on Baisakh 12, 2076. If the issue remains unsubscribed until that period, it will extend to Jestha 7, 2076.
Securities Board of Nepal (SEBON) had approved the initial public offering (IPO) of Ganapati Bittiya Sanstha Ltd. on Chaitra 7, 2075.
Currently, the paid-up capital of microfinance stands at Rs. 7 crores. The paid-up capital will rise to Rs. 10.35 crores after the issuance of IPO. NIBL Ace Capital Ltd. is the issue manager for the public offering.