Himalayan Bank’s FPO Oversubscribed 1.5 Times Just One Day After Opening

The ongoing Further Public Offering (FPO) of Himalayan Bank Limited (HBL), consisting of 92,50,469 units with a par value of Rs. 100 per share, is scheduled to close on 4th Shrawan, 2082. The issue was opened on 32nd Ashadh, 2082.

The company issues 9,250,469 unit shares at Rs 157 per share (Rs 57 premium) and intends to collect Rs 1.45 Arba from this FPO. Citizens Capital Limited has been appointed as the FPO issuance manager. Applications can be placed for a minimum of 10 units and a maximum of 92,50,469 units.

According to CDSC, a total of 6,41,985 applications have been submitted for 1,39,33,580 units, showing that the issue has been oversubscribed by 1.50 times just one day after opening.

CARE Ratings Nepal Limited (CRNL) has downgraded Himalayan Bank Limited’s (HBL) issuer rating from ‘CARE-NP BBB+ (Is)’ to ‘CARE-NP BBB (Is)’, while keeping it under credit watch with negative implications. The same downgrade applies to HBL’s Subordinated Bond rating. These ratings indicate a moderate safety and credit risk for timely financial obligations in Nepal.