The wave of IPOs is coming with very good microfinance IPOs,
Rashtra Utthan Microfinance Financial Institution Limited is going to issue IPO. The organization is preparing to issue an IPO worth Rs 85 million.
The company will issue a total of 850,000 IPOs at a face value of Rs 100. Last year, Rs. The company, which earned a net profit of Rs. 16.5 million, increased its net profit to Rs. 49.5 million 69 thousand has been reached.
Last year, net interest income increased, operating profit increased and Rs. Raising 1.622 million bad loans has helped the company to increase its profit. The company has raised Rs. It is preparing to issue 850,000 IPOs worth Rs 85 million.
The company has also increased its operating profit from Rs 20 million to Rs 77 million. The company, which has collected Rs 640 million in deposits till July, has invested Rs 2.58 billion in loans.
Nation Upliftment Microfinance Financial Institution has appointed NIBL S Capital as the sales manager for the public offering.
The agreement has been signed by Deputy Executive Director Jaya Lohani on behalf of Rashtra Utthan MFI and Assistant General Manager Sachindra Dhungana on behalf of NIBL S Capital.
ICRA Nepal has given IR BB rating to the IPO of Rashtra Utthan Microfinance Financial Institution Limited.
According to ICRA Nepal, there is a moderate risk of the bodies receiving the ratings failing to meet their financial obligations on time. ICRA Nepal also said that the rating was only an opinion of the issuer regarding general credit reliability.