September 7: Ganapati Microfinance Bittiya Sanstha Limited (GMBSL) has appointed NIBL Ace Capital Limited as its issue and sales manager for the IPO issuance. It will be issuing 300,000 ordinary shares at Rs 100 per unit of share as its Initial Public Offering for the general public.

Achut Raj Sapkota, CEO of Ganapati Microfinance Bittiya Sanstha Limited, and the General Manager of NIBL Ace Capital Limited Mekh Bahadur Thapa had signed the agreement on behalf of their respective organisations.

GMBSL is a class “D” microfinance company licensed by Nepal Rastra Bank. After the IPO, its paid-up capital will reach Rs 100 million from Rs 70 million. Similarly, the authorize capital and issued capital is Rs 200 million and Rs 100 million respectively.

The company said it has outstanding loan of Rs 560 million provided to 10,428 deprived sector groups. Similarly, the company has deposit of Rs 132.6 million.

The company has been providing services from 20 branches located in 12 districts of Nepal.