Last day to apply 9.75 lakh units FPO shares of Nepal Grameen Bikas Bank; Advisable to apply 50 kitta only

Nepal Grameen Bikas Bank Limited (NGBBL) is closing 9,75,000 units shares worth Rs  9.75 crore as part of its Further Public Offering (FPO) today (Bhadra 30, 2074). The FPO is issued at a face value of Rs 100 per share i.e. without adding any premium to the par value. The FPO applications was open from Bhadra 27, 2074. The maximum closing date for the offer is Ashwin 10, 2074. Interested applicants must apply for a minimum of 50 units of shares and they can apply for up to 4,870 units shares. Prabhu Capital Limited is the issue manager for the FPO. Interested applicants can collect ASBA forms from all ASBA-approved banks around Nepal as Securities Board of Nepal (SEBON) has made ASBA application mandatory from Shrawan 2074. After the FPO, its paid up capital will reach around Rs 55.75 crore and its promoter – public shareholding structure will be maintained at 69.908% and 30.092%. ICRA Nepal has assigned [ICRANP] IPO Grade 4 rating this FPO indicating below-average fundamentals. NGBBL is a national-level microfinance development bank based in Butwal, formed in 2014 by the merger of 5 microfinance companies: Purwanchal Grameen Bikas Bank, Madhyamanchal Grameen Bikas Bank, Paschimanchal Grameen Bikas Bank, Madhya Paschimanchal Grameen Bikas Bank and Sudur Paschimanchal Grameen Bikas Bank Limited. Its last traded closing price stood at Rs 710 as of September 14, 2017.  For a company with this market price, this upcoming FPO can be a good opportunity to grab shares at its IPO value. Also Read: Why did Nepal Grameen Bikas Bank propose FPO without premium price? Nepal Grameen Bikas Bank to earn Rs 3.55 crore premium from RMDC promoter shares auction; EPS to grow by almost 17%