Standard Chartered FPO collects Rs 35.36 arba from 2.14 lakh applicants; issue oversubscribed by more than 10.71 times till last day

- ShareSansar, March 19, 2017  on Featured , FPO News , Latest , Stock Market

Standard Chartered Bank Nepal Limited (SCB) had issued 25,58,140 units shares worth Rs 3.30 arba as part of its Further Public Offering (FPO) from Chaitra 1 till Chaitra 4, 2073 at Rs 1,290 per unit (Rs 1,190 premium added to the face value of Rs 100). The FPO was oversubscribed by more than 10.71 times till the last day.

As per an official of NMB Capital Limited, the issue manager for the FPO, the issue has collected Rs 21.69 arba on the last day (Chaitra 4, 2073). Out of total 1,21,516 application forms received on the last day, 42,411 applicants applied Rs 13.41 arba via ASBA process and 72,105 applicants applied Rs 8.27 arba for the issue via regular application forms.

Total Collection ( Rs)Total Applicants
DaysTotalASBANon-ASBA (Regular)TotalASBANon-ASBA (Regular)
1st92 crore 96 lakh24 crore 59 lakh68 crore 37 lakh9,1011,0308,071
2nd2 arba 65 crore1 arba 29 crore1 arba 36 crore19,8215,00314,818
3rd9 arba 49 crore7 arba 91 crore5 arba 39 crore56,40031,66024,800
4th21 arba 69 crore13 arba 41 crore8 arba 27 crore1,21,51642,41172,105
Total *35 arba 36 crore21 arba 67 crore13 arba 68 crore2,14,173 75,781 138,392

(* Datewise collection and total collection presented as per the data received by ShareSansar)

The issue has so far collected Rs 35.36 arba from a total of 2,14,173 applications (ASBA included). The official added that collection from 4 ASBA centers are pending, so the final data will vary.

ASBA Collections amount for 61.29% of the total issue

Out of the total collection of Rs 35.36 arba so far, Rs 21.67 arba was collected from ASBA applications. This amounts to 61.29% of the total collection. Likewise, 75,781 applicants (35.38% of total applicants) chose ASBA over regular application forms. 1,38,392 applicants (64.62% of total applicants) applied for the issue via regular forms.

Allotment to conclude within 60 days

Since the number of applicants has exceeded 2 lakhs, the allotment will now conclude in 60 days from the last day of issue i.e. within Jestha 2, 2074.

Possibility of lottery to all retail investors; others likely to get around 7%

As per ShareSansar’s interpretation on this preliminary data, investors who had applied for up to 140 units may fall under lottery. Other investors are likely to be allotted around 7% on pro-rata basis.


(Calculated on ShareSansar IPO Allotment Calculator)

Standard Chartered Bank Nepal Limited has earned Rs 74 crore in the second quarter of the FY 2073/74. Its last traded price (LTP) stands at Rs 1,970 as of yesterday (March 16, 2017).

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.

As per the bank, it will issue 100% bonus shares to its shareholders from the premium earned from the FPO and profit in the FY 2073/74, thereby meeting NRB’s requirement of increasing its paid up capital to a minimum of Rs 8 arba.