Decemebr 18: 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 400,000 units of ordinary shares at Rs 100 per unit as its Initial Public Offering for the general public.

The CEO of Adhikhola Microfinance, Dol Raj KC, and the Deputy General Manager of NIBL Ace Capital Limited, Kabindra Dhoj Joshi, signed the agreement amid a recent function.

Adhikhola Microfinance is a class “D” microfinance company licensed by Nepal Rastra Bank. After the IPO, its paid up capital will reach Rs 100 million from 60 million.

The microfinance company said in a statement it has outstanding loan of Rs 492.2 million provided to 12,246 deprived sector groups. Similarly, the company has deposits of Rs 144.5 million.

The microfinance company has been providing services from 19 branches located in 10 districts of Nepal.