Nepal Grameen Bikas Bank’s FPO worth Rs 9.75 crore in SEBON pipeline

Nepal Grameen Bikas Bank Limited (NGBBL) has been added in Securities Board of Nepal (SEBON) pipeline to seek issuance for the approval for 9.75 lakh units Further Public Offering (FPO) shares to the general public. The microfinance company is seeking to issue 9,75,000 shares at a face value of Rs 100 per share i.e. without adding any premium to the par value. Prabhu Capital Limited is the assigned issue manager for this FPO. NGBBL has earned net profit of Rs 19.58 crore in the third quarter of the FY 2073/74. Its paid up capital stands at Rs 55.75 crore with promoter and general public share ownership at 82.13% and 17.87% respectively. After the FPO, its paid up capital will reach Rs 65.50 crore with promoter – general public shareholding structure at 69.90% and 30.10% respectively. 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. Its last traded closing price stood at Rs 791 as of May 28, 2017. Also Read: Why did Nepal Grameen Bikas Bank propose FPO without premium price? Nepal Grameen Bikas Bank to earn Rs 3.55 crore premium from RMDC promoter shares auction; EPS to grow by almost 17%