Swastik Laghubitta to Issue 80,000 Shares in IPO

February 14, 2024 | Investopaper

Swastik Laghubitta Bittiya Sanstha Limited is in the process of issuing shares to the public (IPO). For this purpose, the microfinance company has submitted the application to the Securities Board of Nepal (SEBON) on Magh 24, 2080 BS. Only after the approval from the board, the company can sell the shares to the public.

If approved by SEBON, Swastik Laghubitta will issue 80,000 shares in the IPO. At a par value of Rs. 100, the public issue amounts to Rs. 80 lakh.

In the first phase, the company will sell shares to the Nepalis in foreign employment. Likewise, in the second phase, the company will issue shares to the general public, including the mutual fund schemes and the employees of the company.

The company has appointed Nabil Investment Banking Limited as the issue and sales manager. The agreement for public offering has already been signed between the company and Nabil Investment Banking Limited on this regard. Mr. Dhirendra Lal Karn, CEO of Swastik Laghubitta Bittiya Sanstha Limited and Manish Narayan Joshi, CEO of Nabil Investment Banking inked the agreement.

About Swastik Laghubitta Bittiya Sanstha Limited

Swastik Laghubitta Bittiya Sanstha Limited is a province level micro-financial institution licensed by Nepal Rastra Bank.

It began its operation from March 26, 2019. It is currently providing microfinance services in Madhes Province.

As of Ashad’s end 2080 BS, the microfinance has a paid-up capital of Rs. 3.46 crores.


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