Swastik Laghubitta Bittiya Sanstha Limited has commenced its Initial Public Offering (IPO) available to the public starting today, 30th Shrawan, 2082. The organization is providing 1,95,195 unit shares at a nominal value of Rs. 100 for each share. The IPO’s early closure date is set for 3rd Bhadra, 2082, but if the subscription is not complete by that date, the deadline will be pushed to 13th Bhadra, 2082.
The company has an issued capital of Rs. 5.77 Crores, out of which 40%, equivalent to 231,000 unit shares worth Rs. 2.31 Crores, will be offered later to the public. From this public offering, 10% of the shares, amounting to 23,100 unit shares, are reserved for Nepalese citizens working overseas.
Among the total of 231,000 units, 11,550 (or 5% of 231,000) are allocated for mutual funds, while 1,155 (which is 0.5% of 231,000) units have been designated for the company’s employees. The remaining 1,95,195 units are now available for the general public, starting today.
Nabil Investment Banking Limited has been designated as the issue manager for the IPO launch. Investors can apply for a minimum of 10 units and a maximum of 5,000 units.
ICRA Nepal has revised the issuer rating of Swastik Laghubitta Bittiya Sanstha Limited (SLBSL) from [ICRANP-IR] B+@ to [ICRANP-IR] B@, while retaining the status as ‘Watch with Negative Implications’. This rating provides an overall assessment of the company’s credit quality and is not associated with any specific debt instrument.
Founded in October 2018, Swastik Laghubitta Bittiya Sanstha Limited (SLBSL) has been operating in Madhesh Province since March 2019, and is classified as a class-D microfinance institution based in Lahan, Siraha. The company reported a net loss of about NPR 1.38 million in FY2024, marking a notable 138% year-on-year drop, with total assets amounting to NPR 613 million. In Q1FY2025, it faced an additional net loss of roughly NPR 0.03 million, while its assets increased to NPR 703 million. By mid-October 2024, SLBSL’s gross non-performing loans (NPLs) were recorded at 11.15%, and its capital adequacy ratio (CRAR) stood at 8.97%.
