NIB FPO allotment of 90.69 lakhs unit shares on Chaitra 30; Big investors likely to get 8.5% whereas small investors approx 30% of the total investment

Nepal Investment Bank Limited (NIB) had issued 90,69,388 unit shares worth Rs 5.45 arba as a part of Further Public Offering (FPO) from Falgun 11 to Falgun 14 2072. The FPO was issued at Rs 601/unit. An official with Nepal Investment Bank Limited said, “The allotment of the FPO will take place on Chaitra 30, 2072.” As per the preliminary data, the big investors are likely to be allotted 8.5% and small investors are likely to get 30% of the total investment, he added. However, percentage may change with the final output of the allotment data. Investors applying Rs 50,000 or below per application form are classified as small investors and those applying above 50,000 are considered big investors. The premise and time of the allotment is yet to be finalized. Nepal Investment Bank Limited is likely to refund excess money collected from investors from the 5^th or 6^th of Baishak, 2073, i.e. 5 days after the allotment of the shares. The bank had issued FPO as per a directive issued by the central bank to maintain at least 30% stake of public shareholders. The FPO  collected approximately Rs 48 arba through 2.30 lakh applicants and it is the highest collection reported in a public issue in the history of Nepal till date. After the issuance of the FPO its paid up Capital has reached to Rs 7.25 arba. The reserve has increased by Rs 4.54 arba to Rs 9.11 arba. After the FPO, NIBL has the highest paid up capital among all the commercial banks other than state owned commercial banks. NIBL has earned net profit  of Rs 1.09 arba in second quarter of the current  fiscal year 2072/73.