IPO Allotment: Aatmanirbhar Laghubitta Allotted Shares to Nepalese Employed Abroad on 8th Falgun

Aatmanirbhar Laghubitta Bittiya Sanstha has allotted IPO shares to Nepalese citizens working abroad. The allotment program concluded on 8th Falgun, 2079.

The issue of 20,338 units of IPO shares for Nepalese citizens working abroad opened on 16th Magh and closed on 2nd Falgun, 2079. The issued capital of the company is Rs. 6.23 crores of which 32.625% i.e. 203,380 unit shares worth Rs. 2.03 crores have been set aside to the general public. Out of the total 203,380 units; 10% i.e. 20,388 units were allocated for Nepalese citizens working abroad, whereas 1.5326% i.e 3,117 units have been set aside for the employees of the company, and 5% of the total offered shares i.e. 10,170 units have been set aside for the mutual funds. The remaining 1,69,755 units are for the general public.

As per the notice published today, the company hereby informs that the issued units have been allotted to the valid applicants on the 8th Falgun.

CARE Ratings Nepal Limited (CRNL) has assigned a rating of ‘CARE-NP B+ (Is)’ [Single B Plus (Issuer)] to Aatmanirbhar Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to have a high risk of default regarding the timely servicing of financial obligations.

Aatmanirbhar Laghubitta is a “D” class Province Level microfinance institution. It was incorporated on November 20, 2018, licensed by Nepal Rastra Bank on February 12, 2019, and commenced operations on April 15, 2019. Initially, the company commenced its business as Gramin Mahila Utthan Kendra (Rural Women Development Center-RWDC), a financial intermediary. However, lately, the company initiated its operation as a separate financial entity. It is primarily engaged in providing microfinance loans based on the Joint Liability Group (JLG) model with each group consisting of a minimum of five members.

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