Nepal SBI Bank FPO allotment today

Nepal SBI Bank Limited will be allotting its 67,767.87 units FPO shares to the applicants today. The allotment will be held at Nepal SBI Merchant Banking Limited at Hattisar, Kathmandu on 3:30PM. NMB Capital Limited is the issue manager for the FPO. Interested applicants are invited to attend the allotment. Nepal SBI Bank Limited (SBI) had issued 67,767.87 units shares worth Rs 6.58 crore as a part of Further Public Offering (FPO) from Poush 11, 2073 till Poush 14, 2073. The FPO was issued at Rs 971/unit and has been oversubscribed by over 73 times. The issue collected around Rs. 2 arba on the last day from 41,190 applicants. Altogether, around Rs 4.82 arba had been collected from 57,070 application forms. Nepal SBI Bank had issued the FPO as per a directive issued by the central bank to maintain at least 30% stake of public shareholders in its share structure. At present, its promoter shareholder: public shareholder ratio stands at 70.12:29.88. Two institutional promoters hold 70.12% of total shares in the Bank. State Bank of India holds 55.09% of the total ownership whereas Employee Provident Fund holds 15.03% shares. After the FPO, the promoter and public shareholder ratio will be maintained at 70:30. Update: Allotment has been concluded. Individual results can be checked in ShareSansar's IPO Result section later tonight.