Last known collection of NMB FPO crosses Rs 1.95 arba from over 55k applicants; Maximum limit for institutional investors yet to be decided by the Board

The FPO issue of NMB has collected Rs 1.95 arba till 11:45 am of this morning from over 55,000 applicants. The total issue is worth Rs 3.80 arba. The issue is still short by around 49%.

The FPO issue had started from Jestha 30, 2075. The bank is issuing 1,14,15,163 unit shares as further public offering to the general public at a price of Rs 333 per share. Applications have been received for around 58.55 lakh units until the morning of the sixth day (i.e. today).

The issue date has been extended till Ashadh 28, 2075. Institutional investors can apply for the FPO issue as the FPO is not fully subscribed by the general public. However, the general public can also apply along with the institutional investors.

The minimum units to apply for this FPO is 10 kitta i.e. Rs 3330 and maximum is (0.5% of the total issue) i.e. 57,070 units amounting Rs 1, 90, 04,310. However, the maximum limit for the institutional investors is yet to be decided by SEBON, according to an official of the Citizen Investment Trust.

ICRA Nepal has assigned Grade 3 rating to the issue indicating average fundamentals.

Citizen Investment Trust has been appointed as the issue manager for the FPO issuance.

After the capitalization of the FPO, paid-up capital will reach Rs 7.60 arba with 51 and 49 percentage shareholding of promoters and general public respectively. The bank will be short by Rs 40 crore to meet the capital requirement of Rs 8 arba.