NBL FPO collects Rs 3.51 crore on the first day; 1298 applicants applied for 1.25 lakh units of the FPO
Fri, Jun 29, 2018 11:28 AM on IPO/FPO News, Stock Market, Latest,
The FPO issue of Nepal Bank Limited (NBL) has collected Rs 3,51,80,000 (Rs 3.51 crore) on its first day from 1,298 applicants. The total issue is worth Rs 4.95 arba.
Nepal Bank Limited (NBL) is issuing Further Public Offering (FPO) to the general public from Ashadh 15 i.e. today. The bank is issuing 1,76,84,858 unit shares at a price of Rs 280 per share (premium included Rs 180). The bank will be gathering Rs 4.95 arba from the FPO issuance.
Applications have been received for 1,25,650 units on the first day of issue.
The issue will close on Ashadh 19, 2075. After the new decision being made by the Securities Board of Nepal (SEBON), the institutional applicants can apply for the share from the first day as well.
The interested applicants can place their applications through any of the financial institutions providing C-ASBA facility. The minimum applications can be placed for 50 units while the maximum applications can be placed for all 1,76,84,858 units.
Care Rating Nepal Limited has assigned grading of CARE-NP IPO Grade 3 + indicating average fundamentals to the issue.
Siddhartha Capital has been appointed as the issue manager for the FPO issuance.
After the issuance of FPO, the stake of Nepal Government will be 51%. Currently it holds 62% of the total share of the bank. Similarly after the issuance of FPO the paid-up capital of Nepal Bank Limited will go up by Rs. 1.76 arba and Rs. 3.18 arba in reserve with the premium amount of Rs 180 per share.
CBIL Capital, NIBL Ace Capital, Nepal SBI Merchant Banking, Civil Capital Market, Laxmi Capital Market, Sanima Capital, Sunrise Capital and Global IME Capital have been appointed as the underwriters of thhe FPO issue. They will underwrite 100% of the issuance among themselves.
It had reported net profit of Rs 2.56 arba in the third quarter of the current fiscal year.
