Nepal Seva Laghubitta IPO worth Rs 1.80 crore issuance from today; Advisable to apply only 50 units

Wed, Apr 25, 2018 1:05 AM on IPO/FPO News, Stock Market, Featured,

Nepal Seva Laghubitta Bittiya Sanstha Limited (SEVA) will be floating its Initial Public Offering (IPO) of 1,80,000 unit shares worth Rs 1.80 crore from today.

The offer will close on Baisakh 16, 2075. The maximum closing date for the offer is Jestha 10, 2075.

Interested investors must apply for a minimum of 50 units of share and they can apply for up to 900 units of share.

The microfinance company has set aside 2% or 3,600 unit shares for its employees and 5% or 9,000 unit shares for the existing mutual fund companies. The company will be floating 1,67,400 units shares to general public.

NMB Capital Limited is the issue manager for IPO.

Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal.

Nepal Seva Laghubitta Bittiya Sanstha has commenced its financial transaction from Mangsir 08, 2071. The main vision of the microfinance company is poverty alleviation of rural community through economic development enhancing standard of living of people. The microfinance company has been rendering services to 12VDC’s of Sindhupalchowk district providing microfinancial services to around 50 thousand people. The company has plans to extend its branches at Rasuwa and Nuwakot district.

Nepal Seva Laghubitta Bittiya Sanstha has paid-up capital of Rs 4.20 crore, and after issuance of IPO shares its capital will reach Rs 6 crore.

It had posted net profit of Rs 39.94 lakh in the FY 2073/74.