Nepal Infrastructure Bank's IPO closes from today; IPO issue already applied by more than 11.63 lakh investors
Tue, Jan 19, 2021 5:55 AM on IPO/FPO News, Latest,
Nepal Infrastructure Bank Limited is closing the issue of 8,00,00,000 units worth Rs 8 arba as Initial Public Offering to the general public from today i.e. Magh 6, 2077. This issue was opened on Magh 2 and interested investors can apply till 5 PM today.
How Many Have Applied for IPO of NIFRA Till Now?
Out of the offered 8,00,00,000 units; 0.20% of the total offered shares to the general public i.e. 1,60,000 units have been set aside for the employees of the company and 5% of the total offered shares to the general public i.e. 40,00,000 units have been set aside for the mutual funds. The remaining 7,58,40,000 units are for the general public.
NIBL Ace Capital Limited has been appointed as the issue manager for the IPO issuance and appointed CIT as the underwriter.
This will be the biggest IPO in the history of Nepal's capital market. The second AGM of the company had endorsed/approved the issuance of IPO. After the IPO issuance, the company's paid-up capital will reach Rs. 20 Arba from the existing Rs. 12 Arba.
The company was established to serve and benefit from investment in significant infrastructure projects like Hydropower projects, road infrastructures, etc. However, Nepal Infrastructure Bank's profit declined by 12.43% to Rs 18.01 crore in the first quarter of the fiscal year 2077/78. Its annualized earning per share stands at Rs 6, and net worth per share stands at Rs 115.
