NEPSE lists 9.75 lakh unit FPO shares of Nepal Grameen Bikas Bank

Nepal Stock Exchange (NEPSE) has listed 9,75,000 units FPO (Further Public Offering) shares of Nepal Grameen Bikas Bank Limited (NGBBL). The trading will start in NEPSE after 7 days of notice published. Now, those successful applicants who are allotted with the shares through lottery can sell their shares in secondary market after receiving in their Demat account. NGBBL has issued 9,75,000 unit shares worth Rs 9.75 crore as part of its Further Public Offering (FPO) for the general public from Bhadra 27 to Bhadra 31, 2074. Allotment of the microfinance company was concluded through new allotment module in which all applicants are allotted with minimum 10 unit shares. Out of 2.50 lakh valid applicant, only 97,500 applicants were allotted with 10 unit shares. After the FPO, the paid-up capital of Nepal Grameen Bikas Bank will reach around Rs 55.75 crore and its promoter – public shareholding structure will be maintained at 69.908% and 30.092%. NGBBL is a national-level microfinance development bank based in Butwal, formed in 2014 by the merger of 5 microfinance companies: Purwanchal Grameen Bikas Bank, Madhyamanchal Grameen Bikas Bank, Paschimanchal Grameen Bikas Bank, Madhya Paschimanchal Grameen Bikas Bank and Sudur Paschimanchal Grameen Bikas Bank Limited.