The Securities Exchange Board of Nepal (SEBON) has granted approval for the IPO proposal of Swastik Laghubitta Bittiya Sanstha Limited.
The firm is set to release 577,500 equity shares, each with a nominal value of Rs. 100. The total amount of this offering stands at Rs. 5.77 Crore.
Nabil Investment Banking Limited has been designated as the manager for the IPO issuance.
ICRA Nepal has lowered 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 signifies a general assessment of the company’s creditworthiness and is not applicable to any particular 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. In FY2024, the company reported a net loss of about NPR 1.38 million, a significant 138% drop year-on-year, with total assets amounting to NPR 613 million. In Q1FY2025, it faced an additional net loss of roughly NPR 0.03 million, while assets grew to NPR 703 million. By mid-October 2024, SLBSL reported gross non-performing loans (NPLs) at 11.15%, alongside a capital adequacy ratio (CRAR) of 8.97%.
