IPO of CBIL Capital for general public added in SEBON pipeline; first merchant bank to issue IPO for public

CBIL Capital has been added in SEBON's pipeline for IPO issuance for general public. The company will be issuing 3 lakh units worth Rs 3 crore. The issue manager for the IPO is Nepal SBI Merchant Banking Limited.

CBIL Capital imited is the subsidiary of Citizens Bank lnternational Limited (CZBIL). CZBIL holds 68.94% of CBIL and rest is owned by business houses. After the increment of minimum paid-up capital of merchant banks to Rs 20 crore, the capital has passed in its AGM to go public.

The current paid-up of CBIL capital is Rs 17 crore and after the issuance it will meet the requirement. CBIL will be the first merchant bank to issue IPO in Nepalese market. However unlike other financial institutions, merchant banks aren't forced by law to issue IPO