November 20, 2020 | Investopaper
Mahila Laghubitta Bittiya Sanstha Limited is going to issue the Initial Public Offering (IPO). The microfinance is planning to issue 4,00,000 unit shares in the IPO. The face value of each share is Rs 100. Hence, the total public issue amount is Rs 4 crores.
The microfinance has submitted application to Securities Board Of Nepal (SEBON) for the issuance of IPO on Mangsir 3, 2077. The company needs permission from SEBON to float the public offering.
For the IPO, Mahila Laghubitta has appointed Nepal SBI Merchant Banking Limited as the issue manager. Both the companies signed agreement for securities issuance and sales management. Krishna Neupane, CEO of Mahila Laghubitta and Roshni Bharati, Managing Director and CEO of Nepal SBI Merchant Banking jointly signed on the agreement.
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About Mahila Laghubitta Bittiya Sanstha Limited
Mahila Laghubitta is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started it operation from Karthik 1, 2075. The head office is located at Sanga-13, Kavre. It is providing the microfinance services low income & underprivileged people and has a working area all over Nepal.
As of Ashad end 2077, Mahila Laghubitta has a paid-up capital of Rs 6 crores. Likewise,the reserve and surplus stood at Rs 10.18 crores. The microfinance has floated total loans and advances of Rs 1.78 Arba. Similarly, the company earned a net profit of Rs 3.52 crores in the fiscal year 2076/77.