Nepal Grameen FPO collects Rs 30.25 crore from 25,737 applicants on first day

- ShareSansar, September 13, 2017  on Featured , FPO News , Latest , Stock Market

Nepal Grameen Bikas Bank Limited (NGBBL) has been issuing 9,75,000 units shares worth Rs  9.75 crore as part of its Further Public Offering (FPO) from yesterday (Bhadra 27, 2074). The FPO is issued at a face value of Rs 100 per share i.e. without adding any premium to the par value. Today is the second day of the FPO. The IPO is oversubscribed by 3.10 times on the very first day.

As per the official of Prabhu Capital Limited,” The total collection of the FPO is approximately Rs 30 crore 25 lakh till yesterday. Around 25,737 application forms were received.”

The FPO applications will close on Bhadra 30, 2074. The maximum closing date for the offer is Ashwin 10, 2074.

Interested applicants must apply for a minimum of 50 units of shares and they can apply for up to 4,870 units shares.

Prabhu Capital Limited is the issue manager for the FPO.

Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal as Securities Board of Nepal (SEBON) has made ASBA application mandatory from Shrawan 2074.

After the FPO, its paid up capital will reach around Rs 55.75 crore and its promoter – public shareholding structure will be maintained at 69.908% and 30.092%.

ICRA Nepal has assigned [ICRANP] IPO Grade 4 rating this FPO indicating below-average fundamentals.

NGBBL is a national-level microfinance development bank based in Butwal, formed in 2014 by the merger of 5 microfinance companies: Purwanchal Grameen Bikas Bank, Madhyamanchal Grameen Bikas Bank, Paschimanchal Grameen Bikas Bank, Madhya Paschimanchal Grameen Bikas Bank and Sudur Paschimanchal Grameen Bikas Bank Limited.