Nepal Community Development Bank IPO closes today; oversubscribed by around 2 times in 3 days

ShareSansar, January 22:
 
Initial Public Offering (IPO) of Nepal Community Development Bank (NCDB) that opened from Sunday is closing today.

The development bank based in Butwal has floated 300,000 units of ordinary shares at Rs 100 face value.

“The IPO has drawn Rs 5.35 crores in the first three days till yesterday,” an official with Growmore Merchant Banker told ShareSansar today.
Of the total primary shares being floated, 6,000 units have been earmarked for its staff.

The development bank has appointed Growmore Merchant Banker as its issue manager, and has set up collection centers at 14 places including all the branches of NCDB, and offices of Growmore, Civil Capital and Laxmi Capital in Kathmandu.

Nepal Community Development Bank Limited had posted a net loss of Rs. 22.3 lakhs during the third quarter of the last fiscal year 2068/69.

Its Net Worth Per Share stands at Rs 91 and EPS at 0.80 percent.