April 11, 2019 | Investopaper
Nepal Agro Laghubitta Bittiya Sanstha Limited is going to issue Initial Public Offering (IPO) from Baisakh 8, 2076.
The company will issue 1,61,778 units shares to the general public worth Rs. 1.61 crore at the price of Rs. 100 per share. The total issued capital is Rs. 4.98 crores. Out of it, 32.50 percent shares will be issued to the public. 0.5 percent or 2,489 shares are reserved for the employees of the microfinance. Likewise, 8,089 shares are allotted to mutual funds. The general public will apply for the remaining 1,51,200 shares. The promoters of the company will possess 67.50 percent shares of the company after the IPO.
The applicants can apply for a minimum of 10 shares and a maximum of 800 shares.
Nepal SBI Merchant Banking is the issue manager for the IPO.
The IPO issue will close on Baisakh 11, 2076 if fully subscribed until that period. Otherwise, it will extend to Jestha 6, 2076.
SEBON has approved the IPO issue of Nepal Agro Laghubitta on Chaitra 18, 2075.
As per the second quarterly report, the share capital stands at Rs. 3.36 crore. Similarly, the reserve stands at 23.59 lakhs. On the other hand, the company reported the net profit of Rs. 72.20 lakhs and net interest income of Rs. 1.04 crore for the same period.
As of now, the company operates in 10 districts and its central office is located in Pokhara.