February 26, 2021 | Investopaper
Mahila Laghubitta IPO Result
The allotment of IPO shares of Mahila Laghubitta Bittiya Sanstha Limited has concluded today. The issue manager Nepal SBI Merchant Banking Limited has allotted 10 unit shares to the 37,500 application through the process of lottery. In the public offering, 15,36,682 valid applicants had submitted an application for 23,692,630 shares. Likewise, 3,353 applicants were disqualified. They had applied for 54,960 shares. At the allotment, 14,99,182 applicants didn’t receive any shares.
The IPO result can be viewed in the Mero share or the respective website of the issue manager (Nepal SBI Merchant Banking Limited) or the company i.e. Mahila Laghubitta Bittiya Sanstha Limited.
Mahila Laghubitta IPO
Mahila Laghubitta Bittiya Sanstha Limited floated 4,00,000 unit shares in the Initial Public Offering (IPO) from Magh 30, 2077 BS. The face value of each share is Rs 100. Hence, the total public issue amount is Rs 4 crores. Due to the oversubscription of shares, the issue was closed on Falgun 5, 2077 BS.
Out of the total public issue, employees of the company and the mutual fund schemes will receive 5,000 units and 20,000 units respectively. Hence, the general public could apply for the remaining 3,75,000 shares.
One could apply for a minimum of 10 shares and a maximum of 1,000 shares.
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Securities Board Of Nepal (SEBON) had provided the approval for IPO on Magh 8, 2077 BS. The microfinance had submitted an application to SEBON on Mangsir 3, 2077.
After the issue of IPO, the general public will possess a 40 percent share in the company. Likewise, the promoters will have the remaining 60 percent ownership.
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.
About Mahila Laghubitta Bittiya Sanstha Limited
Mahila Laghubitta is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started its operation from Karthik 1, 2075. The head office is located at Sanga-13, Kavre. It is providing microfinance services to 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.