Laxmi Laghubitta floats its IPO worth Rs 3 crore

Laxmi Laghubitta Bittiya Sansatha Limited has floated its Initial Public Offering (IPO) worth Rs 3 crore today.

The microfinance institution based in Kathmandu has stated that out of the 3 lakh primary shares being floated at a face value of Rs 100, altogether 15,000 units have been set aside for the mutual funds and 9,000 units for its staff.

The issue would close on June 27, or by July 8 at the latest.

Nabil Investment Banking Limited is the issue manager.

Laxmi Laghubitta has an authorized capital of Rs 10 crore, issued capital of Rs 10 crore, and the paid-up of Rs 7 crore.

Following the IPO, its paid-up capital will also rise to Rs 10 crore.

The class ‘D’ financial institution, which has been in operation since for the last three years, has a reserve profit of Rs 3.85 crore by the end of the last fiscal year, and projected figure of Rs 24.90 crore by the end of the current fiscal year.

Its EPS stood at 0.29, which is expected to grow to 2.63 by the end of the current fiscal and up to 20.52 by the fiscal year 2072/73.
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Laxmi Laghubitta goes for IPO

Laxmi Laghubitta Bittiya Sanstha Limited(LLBS) has published an offer letter to issue 300,000 units IPO share equivalent to NPR 30.00 million to the general public from 24th June 2014. The issue will close on 27th June 2014 if the amount is fully subscribed by that day. Out of 300,000 shares 15,000 units of shares is reserved for mutual fund and 9,000 unit shares to staffs of LLBS.

Interested investors can apply for minimum 50 units of shares and maximum for 5000 units of shares.
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