Opening of the IPO! IPO by Manushi Laghubitta on Shrawan 27; minimum order of 10 units is required
An Initial Public Offering to be held by Manushi Laghubitta Bittiya Sanstha on (Shrawan 27-31, 2078) will result in the sale of 3,93,750 units for Rs 3.93 crore. This issue can be fully subscribed up until Shrawan 31, and if not, it can be extended to Bhadra 9, 2078.
5% of the total offered shares to the general public, i.e. 19,688 units, were set aside for mutual funds, representing 0.5% of the total issued capital of 3,93,750 units. Three hundred eighty-six thousand five hundred and ninety-three units are for general public viewing.
The IPO issuance will be managed by Nepal SBI Merchant Banking Limited.
The minimum number of units for an application is 10 and the maximum number of units is 1,000.
IPO shares worth Rs 3.93 crore will be issued in 3,93,750 units to the general public, or 36% of its total paid-up capital, which will raise the promoter/public basis to 64:326.
Manushi Laghubitta Bittiya Sanstha Limited (MLBSL) has been rated “CARE-NP B+ (Is) [Single B Plus (Issuer)] by CARE Ratings Nepal Limited (CRNL). Those with a rating of this type are thought to be at high financial default risk in Nepal, in terms of timely servicing.
Incorporated on June 24, 2018, and licensed by Nepal Rastra Bank on October 11, 2018, Manushi Laghubitta Bittiya Sanstha Ltd. (MLBSL) was established on October 29, 2018, and has been operating since then.
Afterward, MLBSL was entrusted with the microfinance business that had been conducted by Manushi, an NGO that had been operating as a financial intermediary in Nepal since April 2002. The main activity of MLBSL is providing microfinance loans based on joint liability groups (JLG) of five individuals each.
Manushi Laghubitta to open IPO today
The Manushi Laghubitta Bittiya Sanstha Limited (MLBSL) is a national level microfinance organization licensed by Nepal Rastra Bank on October 11, 2018 and incorporated on June 24, 2018. In April 2002, MLBSL acquired the Nepalese financial intermediary Manushi, a non-profit organization founded in 1991 that had operated as a microfinance institution since 1991. MLBSL provides microfinance loans based on a Joint Liability Group (JLG) structure with at least five members in each group.
A few words about the issue:
From Shrawan 27, 2078, Manushi Laghubitta Sanstha Limited will issue 393,750 ordinary shares worth Rs. 3.93 crore to the general public. On Shrawan 31, 2078, this initial public offering will close early. A period of nine days can be added to the issue if it remains unsubscribed until Shrawan 31, 2078.
In addition to the 393,750 units offered, 0.5% of the issue capital – 5,469 units – has been allocated to the company’s employees, and 5% of the total offered to the general public – 19,688 units – has been assigned to mutual funds. Three hundred eighty-five thousand of the remaining units are for general public use.
Minimum and maximum applications are ten and one hundred each.
The IPO issue manager has been named Nepal SBI Merchant Banking Limited.
As a result of the IPO issue, public holdings will be 36% and promoters’ holdings will be 64%.