Jeevan Bikash Laghubitta Bittiya Sanstha Limited is set to issue 19,77,300 units of shares as IPO from Ashar 11,2078 BS. The deadline for the application is Ashar 25,2078 BS. If it is oversubscribed, the issue will be closed on Ashar 15. However, if it remains undersubscribed then it will remain until the deadline.
Securities Board of Nepal had given the approval to issue the IPO on Jestha 30,2078 BS. The company submitted the application to the board on Falgun 17,2077 BS. It is most likely that the IPO will get oversubscribed by more than 35 times.
The company will issue 19,77,300 units of shares as IPO. Each unit of the share will cost Rs 100 which will amount to be Rs 19.77 crores as total issue money.
Out of the total 19,77,300 units of shares, the employees of the company will receive 30,420 units of shares while 95,865 units will be given to mutual funds. Therefore, the remaining 18,48,015 units of shares are distributed to the general public.
NMB Capital has been appointed as the issue manager. It has got an ICRA rating of BBB- which shows the moderate risk of the company. Individuals can apply a minimum of 10 units and a maximum of 1000 units of shares.
After the IPO, promoters will hold 67.50 percent shares whereas the general public will hold 32.50 percent of the company’s share.
Everything You Need to Know About the Company
JBLSBL is a microfinance institution established with the sole motive of eradicating poverty in Nepal. It was formed by merging Jeevan Bikas, Garibi Nyinikaran, and Solve Laghubitta on Sep 7, 2020. The firm was changed from NGO to microfinance and had been providing financial services since 3rd March 2008 by acquiring a license from Nepal Rastra Bank as a “D” class financial institution.
The company is considered very reliable and supportive of microfinance in the Eastern region, and the main goal of the organization is to build a poverty-free Nepal. It has been continuously working to uplift the living standard of the public along with providing loans to poor people while encouraging them in saving, insurance, and remittance too. Its head office is located at Morang.