BPW Laghubitta will start issuing IPO shares to Nepalese working abroad on 22 Magh and to the general public on 18th Falgun.
An offer letter for BPW Laghubitta Bittiya Sanstha Limited’s Initial Public Offering (IPO) to Nepalese nationals working overseas as well as the general public has really been released.
From the 18th to the 23rd of Falgun, 2079, the corporation will issue 80,950 unit shares to the general public, each with a face value of Rs 100. For now, 9,700 units of IPO shares have been reserved for Nepalese nationals working overseas.
The IPO will begin on Magh 22 and run until February 8, 2079. It should note that the offer might extend till the second Chaitra for the general public if the issue is not registere by the early closing date. Nevertheless, the issue won’t be continued through the early closure date for Nepalese nationals employed overseas.
The business has a total of 3 crore rupees in issued capital, of which 32.33%, or 97,000 unit shares, worth 97 lakh rupees, have allocate to the general public. Out of the total 97,000 units, 10%, or 9,700 units, have been designated for Nepalese nationals working abroad. Additionally, 1.5% of the total offered shares, or 1,500 units, have been designated for company employees.
Finally, 5% of the total offered shares, or 4,850 units, have been designated for mutual funds. The general public will receive the remaining 80,950 units.
The issue manager for the IPO issuance is Mega Capital Markets. The minimum and maximum application quantities for both general and Nepalese citizens working abroad are 10 and 1,000 units respectively.
BPW Laghubitta Bittiya Sanstha Limited has give an issuer rating by ICRA Nepal of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus). For issuers with this grade, there is regarded be a slight risk of default due to the rapid servicing of financial obligations.
An MFI with authorization to operate in the province of Bagmati, BPW Laghubitta Bittiya Sanstha. Was established in September 2018 and formally launched in April 2019. BPW acquired the microfinance operations of Business and Professional Women Patan (BPW Patan). An NGO founded in March 1995 that has been acting as a middleman since 2002, after being awarded a license.
It is marketed by 72 promoters, including one NGO, BPW Patan, with a 1% ownership position and 71 private promoters. Mr. Pradeep Koirala serves as the organization’s acting CEO. The headquarters of BPW are in Banepa-8 Kavre, Nepal, along with the company’s registered office. The ratio of a promoter to public shares after the IPO will be 67.67:32.33.
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