13.5 Lakh Applicants Apply for NIFRA's IPO till This Morning; Application Window Still Open till Today Afternoon

Nepal Infrastructure Bank Limited is closing the issue of 8,00,00,000 unit shares worth Rs 8 Arba as Initial Public Offering to the general public from today i.e. Magh 6, 2077. This issue was opened on Magh 2 and interested investors can apply till 5 PM today.

Out of the offered 8,00,00,000 units; 0.20% of the total offered shares to the general public i.e. 1,60,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 40,00,000 units have been set aside for the mutual funds. The remaining 7,58,40,000 units are for the general public.

NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance and appointed CIT as the underwriter. According to CDSC, 13,50,000 applicants have applied for a total of 16,24,07,090 units. This is the reported data as of 10 AM on the last day today.

This is the biggest IPO in the history of Nepal's capital market. The second AGM of the company had endorsed/approved the issuance of IPO. After the IPO issuance, the company's paid-up capital will reach Rs. 20 Arba from the existing Rs. 12 Arba. The company was established to serve and benefit from investment in significant infrastructure projects like Hydropower projects, road infrastructures, etc. However, Nepal Infrastructure Bank's profit declined by 12.43% to Rs 18.01 crore in the first quarter of the fiscal year 2077/78. Its annualized earning per share stands at Rs 6, and net worth per share stands at Rs 115.