FPO issuance of NMB Bank collects Rs 24 crore on its first day; 9,000 applicants applied for the FPO

The FPO issue NMB Bank of had started from Jestha 30, 2075. The bank is issuing 1,14,15,163 unit shares as further public offering to the general public at a price of Rs 333 per share.

The FPO issue has collected Rs 24 crore on its first day from around 9,000 applicants. The total issue is worth Rs 3.80 arba.

The issue will close on Ashadh 3, 2075. Only general public can apply for this FPO. Institutional investors can apply only if the issue does not get subscribed within stipulated time period.

ICRA Nepal has assigned Grade 3 rating to the issue indicating average fundamentals.

Citizen Investment Trust has been appointed as the issue manager for the FPO issuance.

After the capitalization of the FPO, paid-up capital will reach Rs 7.60 arba with 51 and 49 percentage shareholding of promoters and general public respectively. The bank will be short by Rs 40 crore to meet the capital requirement of Rs 8 arba.