September 14, 2020 | Investopaper
Unique Nepal Laghubitta Bittiya Sanstha Limited is going to issue the Initial Public Offering (IPO). The microfinance is planning to issue 270,000 unit shares in the IPO. The face value of each share is Rs 100. Hence, the total public issue amount is Rs 2.70 crores.
For the IPO, Unique Nepal Laghubitta has appointed Muktinath Capital Limited as the issue and sales manager. Both the companies signed agreement for securities issuance and sales management. Dr. Gopal Dahit, Executive Director of Unique Nepal Laghubitta and Kabindra Dhoj Joshi, CEO of Muktinath Capital Limited jointly signed on the agreement.
Now, the company needs permission from Securities Board of Nepal (SEBON) to float the public offering. So, it will submit application to SEBON for the issuance of IPO.
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About Unique Nepal Laghubitta Bittiya Sanstha Limited
Unique Nepal Laghubitta is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started its operation from Poush 1, 2075. The head office is located at Kohalpur, Banke. It is providing the microfinance services to low income & underprivileged people in districts such as Banke, Bardiya, Kailali, Kanchanpur, Dang, Surkhet, Dadendhura, Nawalparasi, Rupandehi and Kapilbastu. Currently, it has 38 branches that provide services to 82,865 members (women).
As of Ashad end 2077, Unique Nepal Laghubitta has a paid-up capital of Rs 9.68 crores. Likewise, the total reserve and surplus stood at Rs 12.16 crores. The microfinance has collected deposits of Rs 1.79 Arba and floated total loans and advances of Rs 2.50 Arba. Similarly, the company earned a net profit of Rs 4.05 crores in the fiscal year 2076/77.
Kali Prasad Chaudhary is the chairman of the company. Likewise, Dr. Gopal Dahit leads the microfinance as its executive director.