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. The FPO has been oversubscribed by 28.14 times till last day.
As per an official of Prabhu Capital Limited, the issue manager for the FPO of NGBBL, the total collection of the FPO is Rs 2.74 arba till last day from 2,54,852 applicants. As each valid applicant is reserved 10 units shares, only 97,500 out of 2,54,852 applicants will be allotted 10 shares. This way, 1 in 2.62 applications (39.25% applicants) will be allotted the shares.
| Date |
IPO Issue Day |
No. of applicants |
Collection (Rs.) |
| Bhadra 27, 2074 |
Day 1 |
25,737 |
302,518,900 |
| Bhadra 28, 2074 |
Day 2 |
49,764 |
520,542,000 |
| Bhadra 29, 2074 |
Day 3 |
70,533 |
763,878,000 |
| Bhadra 30, 2074 |
Day 4 |
108,818 |
1,157,072,800 |
|
Total |
254,852 |
2,744,011,700 |
Since the total number of applicants was between 2 lakhs and 3 lakhs, the allotment will now be completed within 40 days of the issue’s closing day i.e. within October 25, 2017.
Interested applicants were required to apply a minimum of 50 units of shares and they could apply for up to 4,870 units 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%.
ICRA Nepal had assigned [ICRANP] IPO Grade 4 rating to this FPO, indicating below-average fundamentals.
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.
