Hulas Finserv Hire Purchase to Float 20.75 Lakh Shares in Initial Public Offering (IPO)
September 24, 2024 | Investopaper
Hulas Finserv Hire Purchase Limited is in the process of issuing shares to the public (IPO). For this purpose, the company has appointed NMB Capital Limited as the issue and sales manager.
An agreement has been reached between the company and NMB Capital on this regard. The agreement was signed by Mr. Deepesh Kumar Baidya, Chief Executive Officer of NMB Capital and Mr. Shekhar Golchha, Chairman of Hulas Finserv Hire Purchase Limited.
Now, the company needs to submit the application to the Securities Board Of Nepal (SEBON) after completing the necessary procedures. Only after the approval from the regulatory body SEBON, the company can sell shares to the public.
If approved by SEBON, the company has plans to sell 20,75,000 shares in the initial public offering. At a par value of Rs. 100, the public issue amounts to Rs. 20.75 crores.
About Hulas Finserv Hire Purchase Limited
Hulas Finserv Hire Purchase Limited, established in 2012, is a hire purchase financing institution licensed by Nepal Rastra Bank. The company is mainly promoted by Hansraj Hulaschand and Company Private Limited (85 percent share ownership), with the remaining 15 percent ownership held by six shareholders including Hulas Auto Craft Private Limited and Him Electronics Private Limited.
Recommended:
