Vijaya Laghubitta FPO Application Closes Today
The follow-on public offering (FPO) of Vijaya Laghubitta closes today, with the microfinance firm seeking to rebalance its promoter and public shareholding structure.
The application period for the follow-on public offering (FPO) of Vijaya Laghubitta Bittiya Sanstha Limited comes to a close today, Poush 24. The microfinance institution had opened the issue for subscription on Poush 21.
The FPO has been launched to rebalance the shareholding ratio between promoter and public shareholders to 70:30. Following the merger between the former Naya Sarathi Laghubitta and Vijaya Laghubitta, the company’s paid-up capital reached Rs 745.04 million. At that point, the promoter-to-public shareholding stood at 74.39:25.61, prompting the company to issue additional shares to adjust the ownership structure.
Under the FPO, the company has issued 466,817 ordinary shares at a face value of Rs 100 per share, amounting to a total issue size of Rs 46.68 million.
Retail investors are required to apply for a minimum of 10 shares, while the maximum application limit has been capped at 1,000 shares.
For the FPO, ICRA Nepal has assigned the microfinance institution an Issuer Rating of ICRA NP B (at double B minus level), indicating a high level of risk in the company’s ability to meet its financial obligations on time.
The issue and sales manager for the FPO is NMB Capital Limited. Investors can submit applications through ASBA-approved banks and financial institutions authorized by the Securities Board of Nepal, or via the ‘Mero Share’ online platform operated by CDS and Clearing Limited under the C-ASBA system.