IPO Allotment of NIFRA May Be Delayed; Issue Manager Awaiting Vital Data

The chances of IPO allotment of NIFRA happening this week are slim, according to the issue manager.

Nepal Infrastructure Bank Limited (NIFRA) has just recently closed its IPO issue. The biggest IPO ever in the history of NEPSE was opened from Magh 2.

Out of the offered 8,00,00,000 units; 0.20% of the total offered shares were set aside for the employees of the company and 5% for mutual funds. The remaining 7,58,40,000 units were for the general public. NIBL Ace Capital Limited is the issue manager for the IPO issuance and CIT is the underwriter. According to the issue manager in total 15,29,460 applicants have applied for 18,12,86,760 units in the IPO. This is the tentative data so far.

Issue manager NIBL Ace Capital stated they are still waiting for the list of invalid applicants. They can only proceed after they get the list. When Sharesansar called one of the representatives from the issue manager's office, he said that some media portals have incorrectly reported that the allotment will happen this week. Although the issue manager will try their best to complete the allotment as early as possible, no official statement has been made.

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.