Nepal Seva Laghubitta 1.80 lakh units IPO shares for general public in SEBON pipeline; First Microfinance 50% right share added in pipeline

Nepal Seva Laghubitta Bittiya Sanstha Limited has been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of Initial Public Offering (IPO) shares for general public. The microfinance company is seeking approval to issue 180,000 units shares worth Rs 1.80 crore to be floated to the general public (including its staffs). NMB Capital Limited has been assigned as the issue manager. Nepal Seva Laghubitta Bittiya Sanstha Ltd is incorporated as a public limited company on Mangsir 16, 2070 B.S. It has commenced its financial transaction from Mangsir 8, 2071. It is providing micro-financial services to the low income & underprivileged peoples of remote village development committees of Sindhupalchowk, Rasuwa and Nuwakot district. Likewise, First Microfinance Development Bank Limited (FMDBL) has applied to SEBON to seek approval for issuing right shares in the ratio 2:1 (50%). FMDBL applied to SEBON on Mangsir 8, 2074 to issue a total of 2,281,313 units right shares worth Rs 22.81 crore, each to be floated to its shareholders at par value of Rs 100 per share. Global IME Capital Limited is the issue manager. First Microfinance has earned net profit of Rs 2.41 crore in the first quarter of  the fiscal year 2074/75. Its paid up capital stands at Rs 45.62 crore and after the issuance of 50% right shares, paid up capital will rise to Rs 68.43 crore.