August 24, 2020 | Investopaper
Samaj Laghubitta IPO
Samaj Laghubitta Bittiya Sanstha Limited is issuing 86,000 unit shares in the Initial Public Offering (IPO). The microfinance opened the IPO issue from Bhadra 4, 2077. Due to the oversubscription of shares, the issue will closed on Bhadra 8, 2077. However, if it had remained undersubscribed until this period, the issue would extend to Bhadra 18, 2077.
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The company is floating the IPO worth Rs. 86 lakhs at a par value of Rs 100 per share. Out of the total issue of 86,000 units, mutual funds will receive 5 percent or 4,300 shares. Likewise, the employees of the microfinance will apply for 1,000 shares. Therefore, the general public will participate in the remaining 80,700 shares.
Interested Investors can apply for a minimum of 10 units and a maximum of 5,000 units.
After the issue of the IPO, the general public will possess 43 percent shares while the promoters will hold the remaining 57 percent shares.
Securities Board of Nepal (SEBON) provided the approval for the IPO on Shrawan 21, 2077. The microfinance had company submitted the application to SEBON for IPO issuance on Falgun 16, 2076.
The total capital of Samaj Laghubitta will rise to Rs 2 crores after the IPO. Siddhartha Capital Limited is the issue manager for the IPO.
Care Ratings Nepal has provided ‘CARE-NP B+’ rating to the IPO issue. This indicates high risk of default regarding timely servicing of financial obligations.
About Samaj Laghubitta Bittiya Sanstha Limited
The microfinance is currently led by Mr. Kishori Mahato which reigns as the Chief Executive Officer (CEO). Mr. Dilip Kumar Dhaubdel is the chairman of the company.
Samaj Laghubitta began its microfinance operation from Falgun 25, 2068. The head office is located at Malangawa, Sarlahi. The microfinance is currently operating in 3 districts with its 5 branches.
The company is promoted by retired bankers, Chartered Accountant, Engineer, Business man and teachers.
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