Samudayik Laghubitta Bittiya Sanstha Ltd. (SLBSL) is concluding its initial public offer (IPO) today. The company has opened its pending IPO issue starting from November 18 till 21. The company issued 300,000 unit shares worth Rs 30 million.
Out of the 300,000 unit shares, the company has allocated 12,000 unit shares to its employees and 15,000 unit shares to the mutual funds. The remaining 273,000 unit shares were open to general public.
The provision of application for the interested public investors was a minimum of 50 and maximum of 1,500 unit shares. Nepal SBI Merchant Banking Ltd. (NBMBL) is the issue manager of the company. The issue will close early on November 24 and lately on December 17.
Earlier, Samudayik Laghubitta was supposed to issue the IPO from January 23, however, Securities Board of Nepal (SEBON) under the direction of Nepal Rastra Bank (NRB) postponed the IPO following the revelation of lack of corporate governance within the company and presenting fake financial indicators in its financial reports.
Currently, the company has a paid-up capital of Rs 70 million. It will reach Rs 100 million after the IPO. Its capital structure will be maintained at 70:30 of promoter and general shareholders.
Earlier, Samudayik Laghubitta was supposed to issue the IPO from January 23, however, Securities Board of Nepal (SEBON) under the direction of Nepal Rastra Bank (NRB) postponed the IPO following the revelation of lack of corporate governance within the company and presenting fake financial indicators in its financial reports.
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