Tag: Mirmire

  • NLBBL and MMFDB Merger Finalized: NEPSE Issues Circular on Share Transaction Suspension

    NLBBL and MMFDB Merger Finalized: NEPSE Issues Circular on Share Transaction Suspension


    The final steps for the merger between Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) have recently been concluded. In accordance with Section 9 (3) of the Merger and Acquisition Directive 2079 Act, the Nepal Stock Exchange (NEPSE) has issued a circular, officially suspending share transactions of the company as outlined in Section 9 (3) of the Directory 2079.

    The merger agreement between NLBBL and MMFDB, sealed at a swap ratio of 1:1, has determined the formation of a new entity named “Nerude Mirmire Laghubitta Bittiya Sanstha Limited.” This new company is slated to commence joint operations on Falgun 30, marking the beginning of a consolidated business approach.

    Currently, NLBBL holds a paid-up capital of Rs. 73.20 Crores, while MMFDB’s paid-up capital stands at Rs. 66.57 Crores. The merger signifies a strategic combination of financial strengths and resources from both entities, aiming to enhance their overall market position and operational capabilities.

    In the current scenario, NLBBL and MMFDB are valued at Rs. 595.00 and Rs. 580.00, respectively, based on their Last Traded Prices (LTP). This reflects the market’s anticipation and response to the forthcoming merger, showcasing potential implications for the stock values of the involved entities.

  • Mirmire Laghubitta Reports 41.48% Decline in Q2 Net Profit for FY 2080/2081

    Mirmire Laghubitta Reports 41.48% Decline in Q2 Net Profit for FY 2080/2081


    In the second quarter report of the fiscal year 2080/2081, Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) disclosed a significant 41.48% decrease in net profit. According to the company’s published report, the net profit declined from Rs. 5.81 crore in the corresponding quarter of the previous year to Rs. 3.4 crore.

    Various financial metrics also showed changes. The company’s borrowings decreased by 0.20% to Rs. 4.89 Arba compared to Rs. 4.9 Arba in the corresponding quarter of the previous year, while deposits decreased by 0.77% to Rs. 2.59 Arba. However, the company’s loans and advances increased by 3.32%, reaching 8.26 Arba in the same quarter.

    The net interest income (core revenue) experienced a significant decline of 25.84%, falling to Rs. 17.85 crores from Rs. 24.07 crore in the corresponding quarter of the previous year. Key financial figures included a paid-up capital of Rs. 66.57 crores, retained earnings of Rs. 6.23 crores, and reserves and surplus of Rs. 36.64 crores in the reported quarter.

    Additionally, the non-performing loans (NPL) ratio increased to 4.51% from 3.84%, while the cost of funds decreased to 10.45% from 11.72%. The capital adequacy stood at 9.71%. The company’s annualized earnings per share (EPS) was reported at Rs. 10.22, and the net worth per share was Rs. 164.41. The company traded at a price-to-earnings (P/E) multiple of 61.08 times.

    The table presents major financial highlights, showcasing a comparison between the immediate previous year’s quarter ending figures and those of the current quarter for various financial parameters.

  • Mirmire Laghubitta Bittya Sanstha Lists 123,816.45 Units of FPO Shares on NEPSE

    Mirmire Laghubitta Bittya Sanstha Lists 123,816.45 Units of FPO Shares on NEPSE


    A total of 123,816.45 units of Follow-on Public Offering (FPO) shares of Mirmire Laghubitta Bittya Sanstha Limited (MMFDB) have been officially listed on the Nepal Stock Exchange (NEPSE). These FPO shares, each with a face value of Rs 100, were made available to the general public during the period from the 25th to the 30th of Ashwin. The microfinance company conducted this offering from its paid-up capital of Rs. 65.33 crores. The shares are now actively trading on the NEPSE platform.

    As of the latest available information, Mirmire Laghubitta Bittya Sanstha Limited (MMFDB) is currently listed on the stock exchange with a Last Traded Price (LTP) of Rs. 530. This development represents a significant step for the microfinance institution as it expands its market presence and engages with a broader base of investors through the FPO mechanism.

    It’s important to note that the FPO process allows companies to raise additional capital by issuing new shares to the existing shareholders and the general public. This can contribute to the company’s growth initiatives, expansion plans, or strengthening its financial position. The listing of these FPO shares on NEPSE provides investors with a platform to buy and sell these shares in the secondary market, contributing to the overall liquidity and dynamism of the stock exchange.

  • Mirmire Laghubitta FPO Allotment Set for Thursday with Overwhelming Demand

    Mirmire Laghubitta FPO Allotment Set for Thursday with Overwhelming Demand


    The FPO (Follow-on Public Offering) allotment for Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) is scheduled for this Thursday, which falls on the 16th of Kartik, 2080, as per the Nepali calendar. The allocation event will take place at the premises of Nepal SBI Merchant Banking Limited in Hattisar, Kathmandu, beginning at 8:30 AM.

    As of the present, the company’s paid-up capital amounts to Rs. 65.33 crores. Within this, 71% of the shares, equivalent to 4,639,019 units, are held by the promoter shareholders, while the remaining 29%, totaling 1,894,810 units, are in the hands of public shareholders. According to the regulations of the Banks and Financial Institutions Act of 2073 and the Nepal Rastra Bank (NRB), a minimum of 30% of the issued capital must be retained by public shareholders. Consequently, the company issued 1,23,816.45 units of FPO shares to the general public. This issuance will bring about a shift in the promoter-public share structure from the existing 71:29 ratio to a 70:30 ratio.

    Based on data from the Central Depository System and Clearing Limited (CDSC), the FPO received approximately 12,12,109 applications, amounting to a total of 1,38,83,730 units of shares applied for until the closing day. Consequently, the FPO was oversubscribed by a staggering 112.13 times in terms of the number of units applied for by ordinary applicants.

    Examining the data, it becomes evident that only 12,381 fortunate applicants will secure ownership of the company.

    CARE Ratings Nepal Limited (CRNL) has assigned a rating of CARE-NP BB- (Is) to Mirmire Laghubitta Bittiya Sanstha Limited. Companies with this rating are deemed to present a moderate risk of default in terms of meeting their financial obligations in Nepal.

  • Mirmire Laghubitta (MMFDB) and Nerude Laghubitta (NLBBL) Call for Baisakh 10 SGM to Approve Merger

    Mirmire Laghubitta (MMFDB) and Nerude Laghubitta (NLBBL) Call for Baisakh 10 SGM to Approve Merger


     

    The Special General Meeting (SGM) of Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) and Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) has been scheduled for 10th Baisakh, 2080. The MMFDB meeting will be held at Hotel Sarathi in Dhulikhel, while the NLBBL meeting will be held at Udhyog Sangathan Morang in Biratnagar. The MMFDB meeting will begin at 12:30 PM that day, while the NLBBL meeting will begin at 11 AM.

  • Nerude and Mirmire Laghubitta Sign Merger Agreement

    Nerude and Mirmire Laghubitta Sign Merger Agreement


     

    According to the Nepal Stock Exchange, the final merger agreement between Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) has been completed and approved (MEPSE).

    Poush 11, where the chairman of both organizations signed a memorandum of understanding for merger, the companies had signed a memorandum of understanding for merger.