Adhikhola Microfinance Bittiya Sanstha Limited has appointed NIBL Ace Capital Limited as its issue and sales manager for the IPO issuance. It will be issuing 4,00,000 ordinary shares at Rs.100 per share as its Initial Public Offering for the General Public.
The CEO of Adhikhola Microfinance Mr. Dol Raj K.C and the Deputy General Manager of NIBL Ace Capital Limited Mr. Kabindra Dhoj Joshi had signed on the agreement.
The Adhikhola Microfinance is a class “D” microfinance company licensed by Nepal Rastra Bank on Magh 12, 2073. After the IPO, its paid up capital will reach Rs. 10 crore from 6 crore. Similarly, the authorize capital and issued capital is Rs. 15 crore and Rs. 10 crore respectively.
The company has outstanding loan of Rs. 49.22 crore provided to 12,246 deprived sector groups. Similarly, the company has deposit of Rs.14.45 crore and has successfully made profit of Rs. 80 lakh.
The microfinance has been providing services from 19 branches located in 10 districts of Nepal.