Swastik Laghubitta Bittiya Sanstha Limited is concluding its IPO shares offering to foreign Nepalese immigrants today, the 9th Shrawan, 2082. The offering commenced on 27th Ashadh, 2082.
The company has an issued capital of Rs. 5.77 Crores, of which 40%, or 231,000 unit shares valued at Rs. 2.31 Crores, will be made available later to the general public. Among this public offering, 10% of the shares, amounting to 23,100 unit shares, are reserved for Nepalese nationals working overseas, which will close today.
Of the total 231,000 units, 11,550 (5% of 231,000) are earmarked for mutual funds, while 1,155 (0.5% of 231,000) units are allocated for the company’s employees. The remaining 18,45,000 units will be available for the general public in the future.
Nabil Investment Banking Limited has been appointed as the issue manager for this IPO. Applications could be made for a minimum of 10 units and a maximum of 5,000 units.
ICRA Nepal has downgraded the issuer rating of Swastik Laghubitta Bittiya Sanstha Limited (SLBSL) from [ICRANP-IR] B+@ to [ICRANP-IR] B@, while keeping it under ‘Watch with Negative Implications’. This rating reflects a general assessment of the company’s creditworthiness and is not specific to any debt instrument.
Established in October 2018 and functioning in Madhesh Province since March 2019, Swastik Laghubitta Bittiya Sanstha Limited (SLBSL) is a class-D microfinance institution based in Lahan, Siraha. The company disclosed a net loss of roughly NPR 1.38 million in FY2024, representing a staggering 138% year-over-year decrease, with total assets of NPR 613 million. In Q1FY2025, it further faced a net loss of about NPR 0.03 million, alongside an increase in assets to NPR 703 million. By mid-October 2024, SLBSL’s gross non-performing loans (NPLs) reached 11.15%, and its capital adequacy ratio (CRAR) was at 8.97%.
