Nepal SBI Bank to issue 67,767.87 units FPO shares worth Rs 6.58 crore at Rs 971/unit from Poush 10; Applicants can apply up to 670 units

Nepal SBI Bank Limited (SBI) will be issuing 67,767.87 units shares worth Rs 6.58 crore as a part of Further Public Offering (FPO) from Poush 10, 2073. The FPO is being issued at Rs 971/unit. The FPO applications will close on Poush 13, 2073. The maximum closing date for the offer is Poush 24, 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. As per the official of SBI Bank, " Those shareholders allotted with FPO shares will also be eligible for 28 percent bonus share proposed by the company." 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. At present 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. The bank has also 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 has earned net profit of Rs 35.44 crore in the first quarter of the current fiscal year 2073/74. Collection centers details: