Swastik Laghubitta Bittiya Sanstha IPO Allotment Concludes: Lucky 19,519 Applicants Allotted 10 Units Each via Lottery System
Summary
Swastik Laghubitta Bittiya Sanstha Limited concluded its IPO allotment, with 19,519 applicants receiving 10 units each through a lottery system. The company, rated by ICRA Nepal and operating as a microfinance institution in Madhesh Province, reported net losses and notable financial indicators.
Key Points
- Swastik Laghubitta Bittiya Sanstha Limited completed its IPO allotment at Nabil Investment Banking Limited in Kathmandu.
- The company issued 195,195 units worth Rs 1.95 crores to the general public, allocating shares to various groups including overseas Nepalese workers and employees.
- ICRA Nepal downgraded the issuer rating of Swastik Laghubitta from B+@ to B@ with a watch on negative implications.
- Swastik Laghubitta reported a net loss of NPR 1.38 million in FY2024 and has a gross non-performing loan ratio of 11.15% as of mid-October 2024.
