Mirmire Microfinance FPO open for public from today .

                                    Mirmire Microfinance FPO open for public from today .

The Further Public Offering (FPO) of Mirmire Microfinance has been extended from Thursday, Ashoj 25.

The microfinance has issued an FPO worth NPR 123,816,645. The company has offered FPO shares at NPR 100 each, totaling 1,238,166 shares. As per the Banking and Financial Institution Act of 2073, the microfinance has maintained a capital structure of 30% in the public offering. The FPO application period will be open until Ashoj 30. In case all shares are not sold, the company has stated that it will accept applications until Kartik 9.

This FPO allows for a minimum application of 10 shares and a maximum application of 1,000 shares per individual. Shares can be filled via C-ASBA certified banks and financial institutions, as well as through Mero Share. Nepal SBI Merchant Banking is the appointed sales manager for the FPO.

As per the credit rating agency ICRA Nepal, this FPO has been rated with a ‘ICRA Issuer Rating B-‘ indicating moderate risk. ICRA Nepal assigned this rating on September 17, 2080. This rating will remain valid until September 16, 2081.

Mirmire Microfinance operates through 77 branches in 77 districts. As of 2080 Saun, the central office along with 7 regional offices, 5 sub-regional offices, and 150 branch offices are operational. Looking at the past 5 years’ profits, the company has provided attractive returns to the investors. In the fiscal year 2074-75, it issued rights shares at a 1:0.5 ratio and in the fiscal year 2075-76, it issued bonus shares at a 1:1 ratio.

Currently, the authorized capital of the microfinance is NPR 750 million, out of which NPR 665,764,800 is paid-up capital. After the FPO issuance, the paid-up capital will reach NPR 665,764,800. The promoter shareholders will hold 70% and the general public will hold 30% of the total shares.

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