Kathmandu. Hulas Finserv Hire Purchase is going to bring an IPO at a premium price in the current fiscal year 2082. The company has made public the unrevised financial statements for the third quarter (July-March) of 83 B.S.
According to the financial report, the company has earned a profit of Rs 24.13 crore in the first quarter of the current FY. Previous fiscal year 2081. The company had posted a net profit of Rs 14.59 crore in the quarter ended March 1988. The company’s profit increased by 65.35 percent.
The company’s operating profit stood at Rs 37.77 crore as of mid-April. The company had posted a net profit of Rs 23.22 crore in the same period last year. The operating profit of the company also increased by 62.20 percent.
The company’s net interest income stood at Rs 33.06 crore as of mid-April 2018. The company had posted a net interest income of Rs 14.86 crore in the previous year. Net interest income has increased by 122.43 percent compared to the previous year.
The company has a paid-up capital of Rs 83 crore with Rs 64.81 crore in retained earnings and Rs 25.24 crore in reserve. The company had retained earnings of Rs 45.50 crore and reserve earnings of Rs 20.41 crore in the previous year.
The company has borrowed Rs 8.43 billion and extended loan of Rs 11.27 billion till mid-April. The company had borrowed Rs 6.15 billion and extended Rs 8.02 billion in loan till mid-July of the previous year. The company’s business is also growing.
The company’s annualized return on shares increased to 18.59 percent. The return on the stock was 13.70 percent in the previous year. The non-performing loan of the company has come down to 2.94 percent. In the previous year, the non-performing loan was 4.22 percent.
The company’s earnings per share increased to Rs 38.77. In the previous year, the earnings per share was Rs 23.45. The net worth per share of the company stands at Rs 208.50.
What is the price of the IPO?
Hulas Infra has sought permission from the Securities Board of Nepal (SEBON) to issue an IPO of Rs 333.56 with a premium of Rs 233.56 at face value of Rs 100. If approved by the Securities Board of Nepal (SEBON), the company will issue a total of 3,547,188 units of shares at a price of Rs 333.
The company is expected to raise capital of Rs 1,18,32,29.28 from the IPO issuance. Nabil Investment Banking has been appointed as the issue manager for the IPO issuance.
