Chautari Laghubitta’s 5.4 lakh unit IPO set to be issued; NIBL Ace appointed as issue manager

Chautari Laghubitta Bittiya Sanstha Limited has appointed NIBL Ace Capital as the issue manager for issuing its Initial Public Offering (IPO). The microfinance company is set to issue 5,40,000 shares as public offering at par value of Rs 100.

Mr Laxman Ghimire, CEO of Chautari Laghubitta and Mr Mekh Bahadur Thapa, General Manager of NIBL Ace Capital had signed on the agreement.

Chautari Laghubitta has an authorized capital of Rs 30 crore, paid up capital of Rs 12.60 crore. After the issuance of IPO its paid up capital will stand at Rs 18 crore.

Chautari Laghubitta Bittiya Sanstha is a microfinance company with its head office located in Butwal operating in 10 districts including Rupandehi, Nawalparasi, Kapilbastu, Gulmi, Argakhachi, Palpa, Dang, Pyuthan, Rolpa and Salyan with 34 branches. The microfinance has collected more than Rs 17 crore as deposits and floated more than 61.50 crore as loans to about 22 thousand women. It was able to earn profit of Rs 65 lakh in the third quarter of the current fiscal year 2074/75.

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