2015

IPO Analysis of Kisan Micro
Finance Bittiya Sanstha Ltd.

Sharesansar.com
6/12/2015

Issued Units Per Unit Cost IPO size Shares allotted for Staff Size allotted for Staff Shares allotted for Mutual Fund Size allotted for Mutual Fund Shares allotted for General Public Size allotted for General Public Opening Date Closing Date (Minimum) Closing Date (Maximum) Minimum Investment Units Minimum Investment Amount Maximum Investment Units Maximum Investment Amount ICRA Nepal Rating Issue Manager 80 thousand units NPR 100 NPR 8 million 2400 units NPR 0.Overview Kisan Micro Finance Bittiya Sanstha Ltd.24 million 4000 units NPR 0.000 the payment should be made through account payee cheque.4 million 73600 units NPR 7.36 million 3/1/2072 3/4/2072 3/15/2072 50 units NPR 5000 1000 units NPR 100000 [ICRANP] IPO Grade 4 Civil Capital Market Ltd. Note: IPO applied for more than 50 units should be divisible by 10 and when applied for more than or equal to Rs. .50.

2063 and has been carrying out its activities as per Nepal Rastra Bank Act 2058 and Bank and Financial Institution Act. 2063. Baitadi and Darchula. Company Profile Kisan Micro Finance Bittiya Sanstha Ltd. Humla. 20 million Public Vs. Bajura.00. The company’s promoters have already pledged Rs. 20 million Rs. Achham.Introduction of Kisan Micro Finance Bittiya Sanstha Ltd. The company has a total of 13 operational branches.00. Bajhang.2. was established in 2069/02/19 under the Company Act. Mugu.000 and the additional amount is to be collected through the IPO. 8 million Rs. Doti. Areas of Operation Number of Authorized Districts for Operation Number of Districts in Operation Number of Branches 10 9 13 Capital Structure The bank has authorized and issued capital of Rs. 12 million Domestic Vs. It has its corporate headquarter in Kamalbazar-8. Currently the company has branches in 9 districts namely Achham. These districts are: Kalikot. 0 million . Kalikot. Areas of Operation Kisan Micro Finance Bittiya Sanstha Ltd. 20 million Rs.000.00. Bajhang and Mugu. of Achham district. Promoter Share Public Promoters Rs. Baitadi. Kailali.1. Kailali.20. 20 million Rs. Bajura. is allowed by the NRB to operate in 10 districts. Capital Structure Authorized Capital Issued Capital Paid up Capital Rs. It began its operations from 2069/10/03 as a class D financial institution. Darchula. Doti. Foreign Ownership Domestic Ownership Foreign Ownership Rs.

Public Vs. Foreign ownership Domestic Ownership Foreign Ownership 0% 100% *the capital structure details have been calculated as would be after the IPO. Promoter Share Public Promoters 40% 60% Domestic Vs. .

Director Academic Qualifications: B. 5.Board of Directors The company has 5 members in its Board. Chairman Academic Qualifications: M. Netra Prasad Joshi Mr. Work Experience: 5 years experience as chairperson of Mahila Sahakari. Prabin Paudyal 12000 units 10000 units 5000 units 5000 units 5000 units . Mrs. BOD's shareholding in the company Mr. Work Experience: 6 years experience as director of Kisan Sahakari Sanstha and 3 years experience as Director of Seti Finance. Netra Prasad Joshi. 3. Mr. 1. Lalita Kumari Shahi.A. Lalita Kumari Shah Mr. Work Experience: 10 years experience as chairperson of Bidhya Travels. Chakrapani Sapkota Mr. 4. Director Academic Qualifications: B.A. Mr.A. Work Experience: 8 years experience as managing director of Panchapuri Hardware.A. School. Mr. Mrigendra Bahadur Bista. Mr. 2.Com Work Experience: 12 years experience as director of New Light Higher Sec. Director Academic Qualifications: B. Mrigendra Bahadur Bista Mrs. Chakrapani Chalisa. Director Academic Qualifications: M. Prawin Paudyal.

He was also the founding chairman and the branch manager of Kisan Co-operative for 10 years. He holds a Bachelor’s Degree in Commerce and has a Master’s Degree in Sociology. for 3 years. Indra Kumar Shah. He has also had experience as a manager in Seti Finance for 6 years.CEO’s Profile Mr. Indra Kumar Shah. CEO The Company’s CEO is Mr. He has worked as an officer in Agriculture Development Bank Ltd. .

00% 12000 584 15.77% 124721 Q2 2014 2014-15 12000 3133 15133 175038 20000 5951 25951 239622 Projected (000) 2015-16 2016-17 20000 4078 24078 328384 Share Capital And Reserves 35000 30000 Thousands 25000 20000 15000 Reserve & Surplus 10000 Share capital 5000 0 -5000 2012-13 2013-14 Q2 2014 2014-15 2015-16 2016-17 Total Assets 450 400 350 Millions 300 250 200 150 100 50 0 2012-13 2013-14 Q2 2014 2014-15 2015-16 2016-17 26000 5782 25782 414748 .Financial Highlights Share Capital and Reserve & Surplus: 2012-13 Share Capital Reserve & Surplus Total Equity Total Assets 12000 -1129 10871 42026 Actual (000) Change 2013-14 % 0.76% 12584 196.

Operating and Net Profits: 2012-13 Operating Profit Net Profits -1544 -1129 Actual (000) Change 2013-14 % 2604 1714 Q2 2014 2014-15 2566 2566 8433 5367 Projected (000) 2015-16 2016-17 12772 8127 Operaing and Net Profits 18000 16000 14000 Thousands 12000 10000 8000 Operating Profit 6000 Net Profit 4000 2000 0 -2000 -4000 2012-13 2013-14 Q2 2014 2014-15 2015-16 2016-17 15248 9703 .

87% 96060 2012-13 Deposit Liability Loans Payable Investments Loans and Advances 3027 28038 32688 Q2 2014 2014-15 30985 122021 145974 30000 180000 199471 Projected (000) 2015-16 2016-17 40000 250000 269301 50000 320000 369055 Loans Payable 350 300 Millions 250 200 150 100 50 0 2012-13 2013-14 Q2 2014 2014-15 2015-16 2016-17 Deposits.Deposits and Investments: Actual (000) Change 2013-14 % 15.76% 17923 91910 193. Loans Payable and Loans and Advances 400 350 Millions 300 250 Deposit Liability 200 Loans Payable 150 Loans and Advances 100 50 0 2012-13 2013-14 Q2 2014 2014-15 2015-16 2016-17 .

39% -2.84 128.37% - 20.24% 33.75 31.11 26.62% 1.68% 2.23 Change % 17.41 87.91% 12046 857. Interest Expenses 45 40 35 Millions 30 25 Interest Income 20 Interest Expenses 15 10 5 0 2012-13 2013-14 2012-13 Earning Per Share Book Net Worth per Share ROE ROA Q2 2014 -9.28 102.86 122.89 80.88% 4617 697.63% 2.10% 7429 Q2 2014 2014-15 15464 8451 7013 28500 10500 18000 Projected (000) 2015-16 2016-17 36000 12500 23500 42500 15000 27500 Interest Income Vs.47% 37.24 13.75% 2.69% - 2014-15 Actual 2013-14 2015-16 2016-17 2014-15 Projected 2015-16 2016-17 14.34% .34 Q2 2014 (annualized) 25.66 126.26 119.2012-13 Interest Income Interest Expenses Net Interest Income 1414 482 932 Actual (000) Change 2013-14 % 751.32% -10.

00% 20.00% -20.00% 30.00% ROE ROA 10.00% 40.Earning Per Share 90 80 70 60 2012-13 Rs.00% 2012-13 2013-14 2014-15 2015-16 2016-17 .00% -10.00% 0. 50 2013-14 40 2014-15 30 2015-16 20 2016-17 10 0 -10 2012-13 2013-14 2014-15 2015-16 2016-17 -20 ROE and ROA 50.