Nepal Grameen Bikas Bank FPO shares transferred into Demat account; can be sold after receiving in Demat account

Prabhu Capital Limited, the issue manager for 9.75 lakh unit Further Public Offering (FPO) of Nepal Grameen Bikas Bank Limited (NGBBL) has transferred shares directly in the Demat account of the applicants who are allotted with the shares. As per the notice published in newspaper today, Prabhu Capital requested to check Demat accounts for the confirmation whether shares been deposited or not by going to the respective Depository Participants (DP). Now, after receiving in Demat account, it can be sold in the secondary market. NGBBL has issued 9,75,000 unit shares worth Rs 9.75 crore as part of its Further Public Offering (FPO) for the general public from Bhadra 27 to Bhadra 31, 2074. Allotment of the microfinance company was concluded through new allotment module in which all applicants are allotted with minimum 10 unit shares. Out of 2.50 lakh valid applicant, only 97,500 applicants were allotted with 10 unit shares. 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.