Nagbeli Laghubitta Bikas Bank issues IPO public shares

Nagbeli Laghubitta Bikas Bank Limted is floating the Initial Public Offer (IPO) of 42,900 unit equity shares of Rs 100 face value from today.

The microfinance bank has appointed NMB Capital Market Limited as its issue managers.

Altogether 858 units have been set aside for the bank’s staff and 2,145 units to the mutual funds and the rest to the general public.

The IPO closes on December 11 or could be extended till December 22. The applicants must apply for at least 50 units and up to 5,000 units.

The microfinance development bank based in Birtamod of Jhapa district has paid-up capital of Rs 1 crore 10 thousand, and its paid-up capital will rise to Rs 1.43 crore after the issuance of the IPO.

The bank’s promoters have 70 percent holding in the company as of now. As the end of the last fiscal year 2069/70, its EPS (annualized) stood at Rs 34.54, and its net worth per share at Rs 144.84.

Given the overwhelming response to the IPO issued by four microfinance development banks – Sana kisan, RMDC, Kalika and Naya Nepal — earlier this year as well as the fact that Nagbeli has issued only 42,900 units of equity shares, its IPO is most likely to be oversubscribed hugely.
-sharesansar