Nepal Grameen Bikas Bank FPO allotment on Ashwin 31; allotment through lottery

Prabhu Capital Limited, the issue manager for the FPO of Nepal Grameen Bikas Bank Limited (NGBBL) is going to conclude the allotment on Ashwin 31, 2074. The allotment is going to be held at Prabhu Capital premises, Kamaladi, Kathmandu at 8:30 AM. Sabita Ayral, Prabhu Capital said “They sent pre-allotment module to the Securities Board of Nepal (SEBON) today.” It would be happy for all the applicants as allotment is going to conclude within 30 days, before 10 days from deadline date of allotment. Nepal Grameen Bikas Bank Limited (NGBBL) had issued 9,75,000 units shares worth Rs 9.75 crore as part of its Further Public Offering (FPO) from Bhadra 27, 2074 to Bhadra 31, 2074. The FPO was issued at a face value of Rs 100 per share i.e. without adding any premium to the par value. After the FPO, the paid-up capital of Nepal Grameen Bikas Bank will reach around Rs 55.75 crore and its promoter – public shareholding structure will be maintained at 69.908% and 30.092%. NGBBL is a national-level microfinance development bank based in Butwal, formed in 2014 by the merger of 5 microfinance companies: Purwanchal Grameen Bikas Bank, Madhyamanchal Grameen Bikas Bank, Paschimanchal Grameen Bikas Bank, Madhya Paschimanchal Grameen Bikas Bank and Sudur Paschimanchal Grameen Bikas Bank Limited.