Mahila Laghubitta Bittiya Sanstha Limited has received approval from the Securities Board of Nepal to issue an IPO.
The microfinance company had submitted an application on Mangsir 03 to issue 4 lakh unit IPO shares to the general public. SEBON then approved the proposal on Magh 08. The company has 10 lakh registered shares of which only 40% will be issued in the upcoming IPO. Thus, the promoter: public shareholding ratio of the company will be 60: 40 after IPO issuance.
Mahila Laghubitta has appointed Nepal SBI Merchant Banking as the issue manager for the issuance of 4 lakh unit shares.
Meanwhile, the company has reported a rise in net profit by 159.46% in the second quarter of the fiscal year 2077/78. It has published an unaudited financial report for the second quarter. It has stated that net profit has increased to Rs. 5.43 crore in the second quarter of the fiscal year 2077/78 from Rs 2.09 crore reported in the corresponding quarter of the previous fiscal year 2076/77.
Furthermore, it is worth mentioning that NRB has already approved Mahila Laghubitta’s proposal to acquire Jalpa Laghubitta Bittiya Sanstha Limited.
Note that the IPO date hasn’t been unveiled yet.