Standard Chartered FPO collects Rs 3.81 arba  (oversubscribed by more than 1.15 times) from  30,300 applicants till second day

Standard Chartered Bank Nepal Limited (SCB) has been floating  25,58,140  units shares worth Rs 3.30 arba as part of its Further Public Offering (FPO) from Chaitra 1, 2073. Today is the third day of the FPO. The FPO has collected Rs 3.81 arba till second day from 30,300 applicants. The FPO has been oversubscribed by more than 1.15 times till second day. As per an official of NMB Capital Limited, “The total collection of the FPO is approximately Rs 2 arba 65 crore on second day. Around 19,821 application forms were received.” “On the second day, the FPO has collected Rs 1.36 arba from regular applications and Rs 1.29 arba from ASBA collections. 5003 applicants submitted the application via ASBA forms and 14,818 applicants submitted via regular application forms”, added the official. The FPO applications will close tomorrow (Chaitra 4, 2073). Interested people must apply for a minimum of 10 units of shares and they can apply for up to 25,580 units shares. The number of applied units must be a multiple of 10. NMB Capital Limited is the issue manager for the FPO. Interested applicants can collect application forms from NMB Capital, Nagpokhari, branches of NMB Bank, Standard Chartered Bank, Goodwill Finance, Central Finance and other designated collection centers. Interested applicants can also apply from 1,971 branches of ASBA-approved banks around Nepal. ICRA Nepal has assigned IPO Grade 2+ to this FPO indicating above-average fundamentals. After the FPO, its paid up capital will reach around Rs 4 arba and its promoter – public shareholding structure will be maintained at 70.21% and 29.79%. Its reserve will grow by Rs 3.04 arba.