Mission Development Bank's IPO from today

ShareSansar, June 9:

Mission Development Bank has floated 3,00,000 general shares on Sunday. The bank has appointed Growmore Merchant Banker as sales and issue manager for its shares.

In its IPO announcement, the bank reported its authorized capital to be at Rs 20 crore and its issue capital at Rs 10 crore. The bank’s paid up capital stands at Rs 7 crore.

The bank said it has collected deposits of Rs 81.97 crore and issued loans of Rs 66.75 crore. The bank posted a profit of Rs 1.25 crore for the 2068/69 fiscal year.
 
Likewise, the bank’s net worth per share has been valued at Rs 111.98 and its earning per share (EPS) for 2068/69 stood at Rs 4.85. The bank has projected that its EPS will rise to Rs 11.45 by the end of this fiscal year.

The shares will be issued till June 12 with the final closing date fixed for June 23. The bank started operations three years ago and has five branches outside of the Kathmandu Valley.