Nepal SBI Bank issuing 67,767.87 units FPO shares worth Rs 6.58 crore at Rs 971/unit from today; Applicants can apply up to 670 units

Nepal SBI Bank Limited (SBI) is issuing 67,767.87 units shares worth Rs 6.58 crore as a part of Further Public Offering (FPO) from today (Poush 11, 2073). The FPO is being issued at Rs 971/unit. The FPO applications will close on Poush 14, 2073. The maximum closing date for the offer is Poush 25, 2073. Interested people must apply for a minimum of 10 units of share and they can apply for up to 670 units of share. NMB Capital Limited has been appointed as the issue manager for the FPO of Nepal SBI Bank. Nepal SBI Bank is issuing 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. The bank has a paid up capital of Rs 3.88 arba. After the issuance of the FPO, its paid up Capital will reach to Rs 3.89 arba. The bank has already proposed 28% bonus shares and 1.53% cash dividend (for tax purpose) to its shareholders from the net profit it earned in the FY 2072/73. Also, the bank has decided to issue 10:4 (40%) right share to its shareholders. The bank has decided to issue 40% right share after bonus share distribution and floating FPO. Nepal SBI Bank had earned net profit of Rs 35.44 crore in the first quarter of the current fiscal year 2073/74. Collection centers details: