Jeevan Bikas Laghubitta IPO result opened on Wednesday, 7 July 2021. The IPO was allocated at the premises of the issue manager NMB Capital. Jeevan Bikas Laghubitta Bittiya Sanstha Limited closed the IPO issue for 19,77,300 units worth Rs 19.77 crore on June 29, 2021.
As per allocated share of Jeevan Bikas Laghubitta IPO result, a total of 30,420 units was distributed for the employees of the company an 98,865 unites shares allocated to mutual funds and remaining 18,48,015 units were for the general public.
NMB Capital Limited is the issue manager for the IPO issuance. According to CDSC, it was oversubscribed 16.95 times. A total of 20,87,388 applicants applied for a total of 3,13,24,090 units. Some applications may be invalidated during verification. Furthermore, this has become the issue to have received the highest number of applicants till now. The previous record was broken by Jyoti Life Insurance with 17.97 lakh applicants during the final reporting time. The issue manager may not stream the allotment live for technical reasons. After the issuance of 19,77,300 units worth Rs. 19.77 crore IPO shares, the paid-up capital will scale to Rs 60.84 crore, and the promoter/public ratio will be 67.50:32.50.
About Jeevan Vikas Laghubitta
Jeevan Vikas Microfinance Financial Institution Limited, promoted by Jeevan Vikas Samaj (Non-Governmental Organization), has been providing financial services since March 3, 2008 by obtaining a license from Nepal Rastra Bank as a “D” class (national level) financial institution. Pursuant to the Regulations on Merger and Acquisition of Banks and Financial Institutions issued by Nepal Rastra Bank, 2077, this financial institution and the Self Microfinance Financial Institution Ltd. Dhankuta and Poverty Reduction Microfinance Financial Institution Ltd. The merger has been completed and the integrated transaction has started on September 7, 2008.
Moving forward with the main goal of building a poverty-free Nepal, this financial institution has been providing various services to uplift the living standards of poor families in rural areas. Currently, 293,000 families have directly benefited from the 138 branch offices of this financial institution. With the intention of minimizing economic inequality and expanding the facilities available in the city to the rural areas, this financial institution is providing various types of financial services (savings, loans, insurance and remittances). The financial institution is working in the fields of education, health, agriculture, energy, employment development, etc. with the support and cooperation of the concerned agencies as per its annual plan.
For the development and promotion of cashless banking services, the financial institution is expanding its financial services in the rural areas in a simple and easy way by motivating the members towards digital business. Keeping the interest of the members and the community in the forefront, it is providing timely service facilities by studying the latest services that have a positive impact on the development of the society.
In conclusion, I would like to express my heartfelt gratitude to the members and family members who have been involved in this financial institution with discipline, diligence and honesty. Expressing heartfelt gratitude to the regulatory bodies, governmental / non-governmental organizations, stakeholders, officials of banks and financial institutions, Jews, shareholders, board of directors, employees and well-wishers and all dignitaries who have directly and indirectly assisted and assisted in the journey so far. I look forward to your advice, suggestions and support in the days to come.