NRN Laghubitta To Issue Follow On Public Offering (FPO)

August 21, 2020 | Investopaper

NRN Laghubitta is planning to issue Follow-On Public Offering (FPO) to the general public. The microfinance has announced a special general meeting (SGM) proposing to issue the FPO. The special general meeting will take place in Dhangadhi on Bhadra 20, 2077.

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The company is also proposing to change the name and address of the organization and to establish a corporate office in Kathmandu. Similarly, the general meeting will also elect four directors from the promoters and two from the general public.

About NRN Laghubitta Bittiya Sanstha Limited

NRN Laghubitta Bittiya Sanstha Limited, a national level microfinance institution licensed by Nepal Rastra Bank, was incorporated as the public limited company on Magh 7, 2075. It started its operation from Falgun 3, 2075.

The major promoters of the company include non resident Nepalese, Bankers, retired government employee or national & international businessman.

Also Read: Upcoming Initial Public Offerings (IPO) In Nepal

NRN has already merged with four other microfinance companies:

Creative Laghubitta Bittiya Sansta Ltd
Ramaroshan Laghubitta Bittiya Sanstha Ltd
Divya Laghubitta Bittiya Sanstha
Kishan Micro finance

Based on the unaudited fourth quarter report of the fiscal year 2076/77, NRN Laghubitta has a paid-up capital of Rs 39.28 crores. It has floated total loans and advances of Rs 4.14 Arba until Ashad end, 2077. Similarly, the company has generated a net profit of Rs 4.04 crores in the fiscal year 2076/77.

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