IPO Issue of Swastik Laghubitta Bittiya Sanstha Closing Today; Oversubscribed 117.38 Times So Far
Summary
Swastik Laghubitta Bittiya Sanstha Limited closes its IPO issue today after being oversubscribed 117.38 times, with 19,54,371 applicants applying for 2,29,12,840 units. The microfinance company faces a recent downgrade in issuer rating and reported net losses in FY2024 and Q1FY2025.
Key Points
- Swastik Laghubitta's IPO issue of 1,95,195 units closes on 3rd Bhadra, 2082, following an oversubscription of 117.38 times.
- The company allocated shares for Nepalese citizens abroad, mutual funds, and employees as part of the IPO.
- Nabil Investment Banking Limited is the issue manager for the IPO.
- Swastik Laghubitta reported a net loss of NPR 1.38 million in FY2024 and a further loss in Q1FY2025, with a downgraded issuer rating by ICRA Nepal.
