Salapa Bikas Bank Limited Issuing IPO Shares to Nepalese Employed Abroad From Mangsir 25

Salapa Bikas Bank Limited has published an offer letter to issue an Initial Public Offering (IPO) to Nepalese citizens working abroad.

The IPO issue for the Nepalese citizens working abroad, the issue will open from 25th Mangsir to 29th Mangsir, 2082, and may be extended till Poush 10 if undersubscribed.

The issued capital of the company is Rs. 52.23 Crores. Of this, 33%, i.e., 17,23,880 unit shares, will be issued to the public. Of this general public issue, 10%, a total of 1,72,388 unit shares, have been set aside for Nepalese citizens working abroad, and the issue for this category will open on the date mentioned above.

Of the general public issue, 0.50%, i.e., 26,119 units, have been set aside for the company's employees, and 5% of the total offered shares, i.e., 86,194 units, have been set aside for the mutual funds. The remaining 14,39,179 units will be issued for the general public.

For Nepalese citizens working abroad, the minimum application quantity to be applied is 10 units, while the maximum quantity is 25,000 units.

Muktinath Capital Limited has been appointed as the issue manager.

Infomerics Credit Rating Nepal Limited has assigned an issuer rating of IRN B (Is) [Single B (Issuer)], indicating a high risk of default in the timely repayment of financial obligations.

Salapa Bikas Bank Limited (SBBL), a “B” Class development bank licensed by Nepal Rastra Bank, is a one-district regional bank based in Khotang with 6 branches and its head office. Incorporated on July 16, 2012, it began commercial operations the same year. Promoted by individuals from diverse backgrounds, the major shareholders as of mid-October 2024 are Mr. Dhan Prasad Rai (0.61%) and Mr. Manindra Rai (0.50%). The bank has a paid-up capital of NPR 350 million, entirely held by its promoters.

Offer Letter