From today, 20,338 unit shares of Aatmanirbhar Laghubitta is being available to Nepalese working abroad

From today, 20,338 unit shares of Aatmanirbhar Laghubitta is being available to Nepalese working abroad.

The issue of 20,338 units of IPO shares for Nepalese people working abroad will begin today, on the 16th of Magh, and end on the first of Falgun, 2079.

The firm has a total of Rs. 6.23 crores in issue capital, of which Rs. 2.03 crores, or 32.625%, or 203,380 unit shares, have reserve for the general public. A total of 203,380 units have distribute, with 10%, or 20,388 units, designated for Nepalese nationals working abroad, 1.5326%, or 3,117 units, set for corporate workers, and 5%, or 10,170 units, designate for mutual funds.

The sale of the remaining 1,69,755 units, which are for the general public, will take place from the 11th to the 15th of Falgun. The issue may continue until the 25th Falgun if no subscriptions are received by the early closing date. However, the problem won’t persist through the early closing date for Nepalese nationals working abroad.

The issue manager for the IPO issuance is Sunrise Capital. The minimum and maximum application numbers for general and Nepalese citizens working abroad are 10 and 1,000, respectively. After this IPO promoter-public share ratio will 67.375:32.625.

Aatmanirbhar Laghubitta Bittiya Sanstha Limited has give a rating of “CARE-NP B+ (Is)” [Single B Plus (Issuer)] by CARE Ratings Nepal Limited (CRNL). The timely servicing of financial obligations is deemed to pose a significant risk of default for issuers with this grade.

About the Aatmanirbhar Laghubitta

It is a “D” class Province Level microfinance institution, Aatmanirbhar Laghubitta. On February 12, 2019, Nepal Rastra Bank granted it a license, and it started operating on April 15, 2019. It was establish on November 20, 2018, and in 2019. Gramin Mahila Utthan Kendra, the company’s first form of business, was establish initially (Rural Women Development Center-RWDC).

Recently, though, the business start operating as a distinct financial entity. Its primary business is offering joint liability group (JLG) model micro-loans, with each group consisting of at least five people.

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