Aatmanirbhar Laghubitta will issue an IPO to the General Public & Nepalese-employed Working Abroad

Aatmanirbhar Laghubitta will issue an IPO to the General Public & Nepalese-employed Working Abroad.

In order to issue its Initial Public Offering (IPO) to Nepalese people working overseas as well as the general public, Aatmanirbhar Laghubitta Bittiya Sanstha Limited has released an offer letter.

From the 11th through the 15th of Falgun in 2079, the corporation will issue 1,69,755 unit shares with a face value of Rs 100 to the general public. In the meantime, 20,338 units of IPO shares were allocated for Nepalese nationals working overseas. The offering will start on the 16th of Magh and end on the 1st of Falgun, 2079. For the general public, take note that the issue may be extended until the 25th Falgun if the early closing date is not fully subscribed.

Short Detail about this IPO

Ipo for General Public   IPO for Nepalese employees Working Abroad
Number of Shares 1,69,755 Units   Number of Shares 20,338 Units
Face Value Rs. 100  
Opening Date 11th of Falgun 2079   Opening Date 16th of Magh 2079
Closing Date 15th of Falgun 2079   Closing Date 1 Falgun 2079
  • For the general public, take note that the issue may be extended until the 25th Falgun if the early closing date is not fully subscribed.

 

For Nepalese nationals employed overseas, the issue won’t be postponed through the early closing date.

The firm has a total of Rs. 6.23 crores in issued capital, of which Rs. 2.03 crores, or 32.625%, or 203,380 unit shares, have been reserved for the general public. A total of 203,380 units have been distributed, with 10%, or 20,388 units, designated for Nepalese nationals working abroad, 1.5326%, or 3,117 units, designated for corporate workers, and 5%, or 10,170 units, designated for mutual funds. The general public will use the other 1,69,755 units.

The IPO issuance’s issue manager is as Sunrise Capital. In order to apply, a minimum of 10 units must be submitted, and a maximum of 1,000 units must be submitted for both general and Nepalese residents working abroad. The promoter-public share ratio will be 67.375:32.625 following the first public offering.

Aatmanirbhar Laghubitta Bittiya Sanstha Limited has been rated by CARE Ratings Nepal Limited (CRNL) as having a single B Plus (Issuer) grade of “CARE-NP B+ (Is)”. When it comes to the prompt service of financial commitments, issuers with this grade are thought to be at a high risk of default.

About the Company

The province-level microfinance institution Aatmanirbhar Laghubitta is of “D” class. It was opened on November 20, 2018, received a license from the Nepal Rastra Bank on February 12, 2019, and started running on April 15, 2019. Initially, the company operated as a financial intermediary, Gramin Mahila Utthan Kendra (Rural Women Development Center-RWDC). Recently, though, the business started out as a separate financial organization. Its main business activity is the provision of microloans based on the Joint Liability Group (JLG) model, with each group having a minimum of five members.

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