Final IPO update of Sajha Bikas; oversubscribed by more than 13 times

ShareSansar June 9:

Sajha Bikas Bank Limited has started floating 4, 90,000 unit shares as part of its initial public offering (IPO).

According to NIBL Capital Market official, The IPO is oversubscribed by more than 13 times. The total collection crosses 65 crore.  Total 16000 application forms were collected.

The issue is managed by NIBL Capital Market Limited and the offer will close on Jestha 24.

The maximum closing date for the IPO has been set for Asar 2.

The bank has set aside 9,800 unit shares for its employees and 24500 units for mutual funds, out of which 6,125 units have been allocated to Nabil Balance Fund – 1, 2021 units  for Siddhartha Investment Growth Scheme -1, 4,104 units  for Siddhartha Equity Oriented Scheme, and 6,125 units each for Laxmi Value Fund – 1 and NIBL Sambriddhi Fund -1.

After the issue, the promoter-public ratio in the bank will stand at 51% to 49% and its paid up capital will reach to Rs 10 crore.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed Initial Public Offering (IPO) amounting NPR 49 million of Sajha Bikas Bank Limited (SBBL).

The bank reported a loss of Rs 1.41 crore in the fiscal year 2070/71. The bank had amassed Rs 29.27 crore in deposits during the same period. The bank's net worth per share stood at Rs 60.32.