Rashtra Utthan Laghubitta bittiya sanstha Limited is going to open IPO issuance and sale from Falgun 4. Rashtra Utthan Laghubitta is about to issue 850,000 IPOs worth Rs 85 million.
Out of the total 850,000 shares to be issued by microfinance, 0.5 percent or 13,000 shares have been reserved for employees and 5 percent or 42,500 shares for collective investment funds. The general public will be able to apply for the remaining 794,500 shares.
Applications for the IPO can be submitted as early as Falgun 4 and as late as Falgun 10. Investors will be able to apply for a minimum of 10 units to 1000 lots.
The IPO issue and sale manager is NIBL ACE Capital Limited. Interested applicants can apply through C-ASWA Member Banks and Financial Institutions and MyShare website and app.
ICRA Rating Nepal has given microfinance ICRA NP IR Double B rating in the credit rating for IPO issuance. This indicates that there is a moderate risk in fulfilling financial obligations on time.
At present, the paid-up capital of microfinance is Rs. 175 million. After the IPO allotment, the paid-up capital of microfinance will reach 260 million.