KATHMANDU, July 3: Swastik Laghubitta Bittiya Sanstha Ltd is set to open its Initial Public Offering (IPO) from July 11, targeting Nepali citizens working abroad in the first phase.
In this round, the microfinance institution will issue 23,100 shares at a face value of Rs 100 each, totaling Rs 2.31 million. Applications for the IPO can be submitted until July 25. Interested investors can apply for a minimum of 10 shares and up to a maximum of 5,000 shares.
Swastik Laghubitta to issue IPO
The company has received approval to issue a total of 231,000 shares, equivalent to 40 percent of its paid-up capital, amounting to Rs 23.1 million.
Out of the total IPO shares, 1,155 shares have been reserved for employees, 11,550 shares for mutual funds, and the remaining 195,195 shares will be open to the general public in the subsequent phase.
ICRA Nepal has assigned the rating of [ICRANP-IR] B (Issuer Rating) to Swastik Laghubitta, indicating a moderate degree of safety regarding timely servicing of financial obligations.
Nabil Investment Banking Limited has been appointed as the issue manager for the IPO.
