Mirmire Laghubitta Sanstha Limited Opening 123,816.45 Units FPO Shares Issue to General Public From Today
Thu, Oct 12, 2023 11:37 AM on IPO/FPO News, Latest,
Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) is opening the issue of its 123,816.45 unit FPO shares at a par value of Rs. 100 from today i.e. 25th Ashwin, 2080. The early closing date of this issue is on the 30th Ashwin and if the issue is not fully subscribed, it can be extended up to the 9th Kartik, 2080.
According to the Banks and Financial Institutions Act of 2073 and the NRB, at least 30% of the issued capital should be retained by public shareholders in order for the company will be issuing 1,23,816.45 units of FPO shares to the general public. At present, the promoter: public share structure is a 71:29 ratio, which after this FPO will be a 70: 30 ratio.
The company intends to collect Rs 1.23 crore from this FPO.
Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the FPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 1000 units.
CARE Ratings Nepal Limited (CRNL) has given the rating of CARE-NP BB- (Is) to Mirmire Laghubitta Bittiya Sanstha Limited. Issuers with this rating are considered to offer a moderate risk of default regarding the timely servicing of financial obligations, in Nepal.
