IPO for General Public: Salapa Bikas Bank Limited to Issue 14,39,179 Units IPO Shares from Poush 16

Salapa Bikas Bank Limited will open its Initial Public Offering (IPO) for the general public on the 16th Poush, 2082. The company is issuing 14,39,179 unit shares at a par value of Rs. 100 per unit. The early closing date for the IPO is the 20th Poush, 2082, but if the issue is not fully subscribed by then, the deadline will be extended to the 30th Poush, 2082.

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, were already allotted to the Nepalese citizens working abroad.

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 and will be opened on the 16th Poush.

Muktinath Capital Limited has been appointed as the issue manager for the IPO issuance. Applications could be placed for a minimum of 10 units and a maximum of 25,000 units.

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