Nepal Investment Bank to refund FPO non allottee investors from today

Nepal Investment Bank Limited (NIB) is refunding excess money collected from investors from today (Baishak 5, 2073). The applicants having an account mentioned of Nepal Investment Bank, Prabhu Bank, NIC Asia Bank and Goodwill Finance, the excess money will be directly deposited in their respective bank accounts. For others, they have to visit the respective collection centers where they have deposited their forms of FPO with receipt to collect their refund money through account payee cheque. The non-allotees have to bring their receipt slip with a copy of citizenship or authorization letter to collect their payment slip. Nepal Investment Bank Limited (NIB) has concluded its FPO allotment today at the Hotel Annapurna, Kathmandu at 9:30 AM. Allotment for investors who had applied from Rs 6,010 or 10 units to Rs 12,020 or 20 unit shares were decided through a lottery and remaining investors who had applied for Rs 18,030 or 30units to Rs 48,080 or 80 units were allotted 32.5% on pro-rata basis. And the other investors applied for Rs  54,090 or 90 units to Rs 12,02,00,000  or 2 lakhs units were allotted 8.5% on pro rata basis. Investors of 90, 100 and 110 unit shares got lucky to get minimum 10 unit shares and not in lottery as only 8.5% shares fall in Other investors category.