Upakar Laghubitta Bittiya Sanstha Limited IPO Notice

Upakar Laghubitta Bittiya Sanstha Limited IPO Notice

Upakar Laghubitta is a ‘D’ class microfinance institution licensed by Nepal Rastra Bank. It started its operation on March 27, 2019. The head office is located at Kohalpur, Banke. It is providing microfinance services in Province 5. 

Upakar Laghubitta Bittiya Sanstha Limited is going to issue the Initial Public Offering (IPO). The company will sell 266,250 unit shares to the general public from Chaitra 25, 2078 BS. The face value of each share is Rs 100. Hence, the total public issue amount is Rs 2.66 crores. If fully subscribed, the public offering will close on Chaitra 29, 2078 BS. However, if it remains under-subscribed until that period, the deadline for application will extend until Baisakh 9, 2078 BS. Out of the total issue, 3,281 shares are reserved for the employees of the company. Likewise, 11,813 shares are allotted to the mutual fund schemes. 

Hence, the general public can apply for the remaining 221,156 shares. Interested investors can submit the application for a minimum of 10 shares and 1,000 shares. Securities Board Of Nepal (SEBON) granted the approval to the company for public issuance on Chaitra 7, 2078 BS. The company had submitted the application to the board on Shrawan 13, 2078 BS. 

Upakar Laghubitta appointed Nepal SBI Merchant Banking Limited as the issue manager for the IPO. Similarly, Nepal SBI Merchant will also work as the registrar to share (RTS) of Upakar Laghubitta. After the issue of IPO, the general public will possess 36 percent share in the company (if fully subscribed). Likewise, the promoters will own 64 percent shares.