4 microfinance IPOs come?
Lately, there has been a flood of primary ordinary shares (IPO) in the Nepali stock market. Recently, especially hydropower companies, insurance companies and microfinance companies have started issuing IPOs to increase their capital.
With at least one company issuing IPOs every week since the start of the fiscal year, half a dozen companies have already received permission from the Nepal Securities Board to issue IPOs.
Similarly, at the Nepal Securities Board, about one and a half dozen companies are currently sitting in the pipeline seeking permission to issue IPOs. While many companies are issuing IPOs, four microfinance companies, which are considered very attractive in the share market, have started the process of issuing IPOs.
The four companies have applied to the Nepal Securities Board (NSB) seeking permission to issue an IPO. Which are the 4 companies and how many IPOs are being issued? NASDO Samriddha Laghubitta has applied to the Securities and Exchange Board of Nepal (SEB) seeking permission to issue 828,750 IPOs. Another is Jalpa Community Microfinance, which has reached the Securities and Exchange Board of Nepal (SEB) demanding the issuance of 522,000 ordinary shares.
Similarly, Rashtra Utthan Laghuvitta has also sought permission to issue 850,000 shares, while Upkaar Microfinance has sought permission from the board to issue 266,250 IPOs.
These 4 microfinance institutions are going to issue a total of 2.46 million IPO lots. These four companies, which have applied to the board for IPO issuance and sale, will issue shares to the public through the approval of the board.