Last day to grab 90.69 lakh units FPO shares of Nepal Investment Bank;Collection crosses Rs 12 arba
Fri, Feb 26, 2016 3:25 AM on Latest, Exclusive, IPO/FPO News, Featured,
Nepal Investment Bank Limited (NIB) has floated its Further Public Offering (FPO) of 90, 69,388 kittas shares worth Rs 5.45 arba at Rs 601 per unit from Falgun 11, 2072. Today is the last day of FPO as per the notice published by the company. The FPO has already collected Rs. 12 arba till yesterday.
Interested investors can apply minimum of 10 units while one can apply up to 2 lakhs units. The issue closes today (Falgun 14). Demat A/C is not compulsory to apply for FPO of NIB.
Citizen Investment Trust (CIT) is appointed as the issue manager for the FPO of Nepal Investment Bank.
The collection centers to submit applications forms for FPO are as follows:
The bank is issuing FPO as per directive issued by the central bank to maintain at least 30% stake of public shareholders. NIBL has already crossed its deadline set by NRB of Ashad end, 2072. At present Promoter and ordinary shareholders’ share structure of the commercial bank stands at 80:20.
At present the bank has a paid up capital of Rs 6.34 arba. After the issuance of the FPO its paid up Capital will reach to Rs 7.25 arba. The reserve will be increased by Rs 4.54 arba to Rs 9.11 arba. After the FPO, this paid up capital will be the highest among all the commercial banks other than state owned commercial banks.
NIBL has earned net profit of Rs 1.09 arba in second quarter of the current fiscal year 2072/73.
ICRA Nepal has assigned an “[ICRANP] IPO Grade 3+”, indicating average fundamentals of the proposed FPO amounting to NPR 5,341.42million of Nepal Investment Bank Limited .
