KATHMANDU: Ganapati Microfinance Bittiya Sanstha Ltd (GMBSL) has appointed NIBL Ace Capital Ltd as its issue and sales manager for initial public offering (IPO) issuance.

It will be issuing 300,000 ordinary shares at Rs 100 per share as its IPO for the general public.

The CEO of GMBSL Achut Raj Sapkota and General Manager of NIBL Ace Capital Ltd Mekh Bahadur Thapa put their initials on the agreement, as per a media release.

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.