Samudayik Laghubitta to allot 3 Lakh units IPO tomorrow 9 AM at Nepal SBI Merchant Banking

Samudayik Laghubitta will be allotting shares on 10^th Mangsir, 2075 i.e. tomorrow from 9 AM at Nepal SBI Merchant Banking, Hattisar. The company had floated 3 Lakh units of shares as IPO from 2^nd Mangsir to 5^th Mangsir, 2075.

Out of the 3,00,000 units; 12,000 units have been set aside for the employees and 15,000 units have been set aside for the investment funds while the remaining 2,73,000 units will be for the general public.

Nepal SBI Merchant Banking Limited has been appointed as the issue manager for the IPO issuance.

Previously, the company had announced to issue the IPO from Magh 9 to Magh 12, 2074. However, the day before the date of issue, i.e. on Magh 8, 2074 the company had published a notice regarding the postponement of the IPO issue until further notice.

Samudayik Laghubitta is located at Kavrepalanchowk district of Nepal. At present, the microfinance company is rendering financial services through 32 branch offices. Samudayik has paid-up capital of Rs 7 crore, and after issuance of IPO shares its capital will reach Rs 10 crore.

The company recently posted decent growth in net profit by 40.67% to Rs 40.43 lakh in the first quarter (Q1) of fiscal year 2075/76. The microfinance institution has stated that its operating profit has also increased to Rs 63.54 lakh in Q1 from Rs 45.17 lakh in the corresponding quarter of the last fiscal year.