Swastik Laghubitta Opens IPO for Nepalis Working Abroad

Swastik Laghubitta Bittiya Sanstha Limited has opened its Initial Public Offering (IPO) for Nepali citizens currently employed abroad starting today (Asar 27).

The microfinance institution received approval to issue 231,000 units of ordinary shares worth NPR 23.1 million, which is 40% of its issued capital. Out of the total, 1,155 shares have been allocated for employees and 11,550 shares for mutual funds. The remaining 23,100 shares are specifically reserved for Nepali citizens working overseas who have received labor permits from the Government of Nepal.

Eligible applicants can apply for the IPO until Shrawan 9. Each applicant must apply for a minimum of 10 shares and can request up to a maximum of 5,000 shares.

Credit rating agency ICRA Nepal has assigned the company a rating of “[ICRANP] IPO Grade B@”, indicating a high risk in the company's ability to meet its financial obligations on time.

Nabil Investment Banking Limited is the issue and sales manager for this IPO. Interested Nepalis abroad can apply through the C-ASBA system via banks and financial institutions approved by the Securities Board of Nepal (SEBON).