30 January 2021, Kathmandu
Mahila Laghubitta Bittiya Sanstha Limited has received permission from the Securities Board of Nepal (SEBON) to issue an IPO. The microfinance company is planning to hover 4 lakh unit shares in the IPO. The value of each share is Rs. 100. The total sum of the public issue is hence Rs 4 crores.
The micro-finance had submitted an application to SEBON on Mangsir 3, 2077. Then SEBON has provided the approval for IPO on Magh 8, 2077.
After the IPO is issued, the general public will have a 40% stake in the company. Likewise, the remaining 60 percent will be owned by the promoters.
For the IPO, Mahila Laghubitta has appointed Nepal SBI Merchant Banking Limited as the issue manager.
Meanwhile, the company made a net profit increase of 159.46 percent in the second quarter of the fiscal year 2077/78.
An unedited financial report for the second quarter was released. It claimed that net profit increased to Rs. 5.43 crore in the second quarter of the fiscal year 2077/78 from Rs. 2.09 crore recorded in the corresponding quarter of the previous fiscal year 2076/77.
The IPO date has yet to be announced.