SEBON gives final approval to IPO issuance of Sabaiko Laghubitta; microfinance company to issue 5.30 Lakh units as IPO

Sabaiko Laghubitta Bittiya Sanstha Limited is looking to issue Initial Public Offering (IPO) worth Rs.5.30 Crore. The company has proposed to issue 530,000 units at par, issuing 32.12% of the issued capital.

Securities Exchange Board of Nepal (SEBON) has given the final approval to the issue in the lasted list of issues approved published by the board.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance.

The microfinance collected Rs.33.65 Crore as deposits and floated Rs.1.41 Arba as loans and advances by the end of the third quarter of the current fiscal year. The Non-Performing Loan (NPL) of the microfinance company stands at 0.19%.

It has reported its net interest income as Rs.5.04 Crore with Rs.3.44 Crore as operating profit for the third quarter.

The company has paid up capital equal to Rs.11.20 Crore and reserve of Rs.2.30 Crore.

In the third quarter of the fiscal year 2075/76, the net profit of the company has been reported to be Rs.2.19 Crore compared to a net loss of Rs.32.20 Lakhs reported in the corresponding quarter of the previous year.