SEBON adds Nepal Agro Laghubitta IPO under preliminary review; the microfinance company looking to issue 1.61 Lakh shares

Nepal Agro Laghubitta Bittiya Sanstha Limited is looking to issue Initial Public Offering (IPO) worth Rs.1.61 Crore. The company has proposed to issue 161,778 units at par.

Securities Exchange Board of Nepal (SEBON) has added the issue to their pipeline and the issue is currently under preliminary review.

Nepal Agro Laghubitta Bittiya Sanstha Limited (Nepal Agro Microfinance Bittiya Sanstha Ltd.) was established on 19th April 2016 (2073/01/07). It is registered as a public limited company under Company Act of Nepal 2006. Nepal Agro Laghubitta Bittiya Sanstha Ltd. received operating license from Nepal Rastra Bank as ‘D’ class financial institution on 8th September, 2016 (2073/05/23) to operate under Bank and Financial Institution Act, 2006. Its operation started from 20th September 2016 (2073/06/04). Central Office of Nepal Agro Laghubitta is located in western part of Nepal, Pokhara, Kaski and it's working districts as of now are Kaski, Parbat, Baglung, Gulmi, Palpa, Salyan, Pyuthan, Rolpa, Tanahu and Lamjung.

As of second quarter of FY 75/76, the share capital of the microfinance company stands at Rs.3.36 Crore and the reserves stand at Rs.23.59 Lakhs. The net interest income for the period stands at Rs.1.04 Crore with net profit of Rs.72.20 Lakhs.