It has been proposed that CYC Nepal Laghubitta Bittiya Sanstha Limited (CYC) offer 3,95,336 shares through an Initial Public Offering (IPO) to the regulatory board SEBON, which has received the application (IPO). On Ashoj 11, the application was received by SEBON.
CYC Nepal Laghubitta is a microfinance organisation based in Baglung with its headquarters in Kathmandu. Another microfinance company with its headquarters in Beni, Myagdi, was recently bought by the company. Shaligram Laghubitta is a subsidiary of the company. As of the 29th Ashar of the year 2078, CYC Nepal Laghubitta and Shaligram Laghubitta have began combined operation under the name of CYC Nepal Laghubitta Bittiya Sanstha Limited, following a successful acquisition procedure between the two companies.
Immediately following the acquisition, the company’s authorised capital has increased to Rs. 20 crores, while its issued capital has increased to Rs. 12,164,183,047.04. The business’s promoters currently own 67.5 percent of the company, with the remaining 25 percent to be acquired through this IPO.
A total of 37 branches are operated by the microfinance organisation, which serves more than 47,000 families on a countrywide level.
The issue manager for the initial public offering (IPO) has been named as Global IME Capital. The agreement between the managing director of the microfinance company, Mr. Dolindra Prasad Sharma, and the deputy chief executive officer of the capital, Mr. Parag Bista, was signed on March 22nd, 2013.
