BPW Laghubitta IPO Allotment To Be Concluded On Friday; 8,095 Applicants Get 10 Units Each

The IPO allotment of BPW Laghubitta Bittiya Sanstha Limited will take place this Friday, i.e. on 3rd Chaitra, 2079. The allotment program will be held on the premises of the issue manager, Mega Capital Markets, Kamalpokhari at 11 AM.

The company issued 80,950 units of shares of Rs 100 face value as an Initial Public Offering to the general public from the 18th Falgun till the 23rd Falgun. Out of the total 97,000 units; 10% i.e. 9,700 units were for Nepalese citizens working abroad, whereas 1.50% i.e 1,500 units were set aside for the employees of the company, and 5% of the total offered shares i.e. 4,850 units were set aside for the mutual funds. The remaining 80,950 units were for the general public.

ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating Double B minus) to BPW Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to have a moderate risk of default regarding the timely servicing of financial obligations.

BPW Laghubitta Bittiya Sanstha Limited came into existence in September 2018 and started its operations in April 2019 as an MFI, licensed to operate in Bagmati Province. After its licensing, BPW took over the microfinance business being conducted by Business and Professional Women Patan (BPW Patan), an NGO, established in March 1995 and operating as a financial intermediary since 2002. It is promoted by 72 promoters (71 individual promoters and one NGO BPW Patan with a ~1% equity stake). Mr. Pradeep Koirala is the Acting Chief Executive Officer of the company. The registered and corporate office of BPW is in Banepa -8 Kavre, Nepal.