Naya Nepal shares debut today; price band ranges from Rs 118 to 354

ShareSansar, January 26:

The primary shares of Naya Nepal Lagubitta Bikash Bank, which were listed on January 17, are being traded from today.
 
Though trading band fixed by Nepal Stock Exchange Limited (NEPSE) ranges from Rs 118 to Rs 354, the scrip is expected to debut at Rs 354 if the response to the IPO is anything to go by, according to stock analysts.

The microfinance development bank had floated 60,000 unit equity shares of face value Rs 100 each on October 3, and had closed it on October 6. Since the IPO was oversubscribed by more than 50 times, the allotment of shares for investors who had applied for up to 560 shares was done through a lottery.

It was flatly allotted to both the small and big investor at 1.67 percent on November 15 as 66 percent of the applicants were from smaller investor group.

Of the 60,000 units being floated in the market, 1,200 units were reserved for its staff and 3,000 units have already been allotted to the mutual funds.

Naya Nepal Lagubitta Bikash Bank has an authorized capital of Rs 4 crore, issued capital of Rs 2 crore and its paid-up capital became at par with the issued capital following the issuance of the IPO.

The company established five years back in Dhulikhel in Kavrepalanchowk district has posted a net profit of Rs 19 lakh and 95 thousand in the fiscal year 2068/69.