Nepal Infrastructure Bank appoints CIT as the underwriter of its IPO issuance; NIFRA issuing IPO worth Rs 8 arba

Nepal Infrastructure Bank Limited (NIFRA) is going to issue IPO worth Rs 8 arba. It has appointed Citizen Investment Trust (CIT) as the underwriter of the issue.

The deal has been signed by Executive Director, Raman Nepal, on behalf of CIT and Deputy CEO, Bhupendra Pandey, on behalf of NIFRA.

NIFRA is the first infrastructure development bank of Nepal with investment from Nepal Government too. This IPO issuance is the largest public issue of the country.

NIFRA's authorized capital is Rs 40 arba, issued capital is Rs 20 arba and paid-up capital is Rs 12 arba. After this IPO issuance, the paid-up capital will reach Rs 20 arba.